Why Has Oppenheimer Given Tower Semiconductor (NYSE:TSEM) a $20.00 Price Target
Oppenheimer analyst have initiated coverage on Tower Semiconductor (NYSE:TSEM) with a $20.00 TP and Outperform rating. The TP may suggest a potential upside of 35.50% from firm’s last stock price.
From a total of 3 analysts covering Tower Semiconductor (NYSE:TSEM) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. Tower Semiconductor was the topic of 2 analyst reports since October 20, 2015 according to the firm StockzIntelligence Inc. Chardan Capital Markets maintained shares on November 23 with “Buy” rating.
Approximately 528,059 shares of stock traded hands or 4.99% up from the average. Tower Semiconductor Ltd. (USA) (NYSE:TSEM) has declined 13.35% since May 12, 2015 and is downtrending. It has underperformed by 9.68% the S&P500.
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The company has a market cap of $1.11 billion. The Firm focuses on producing integrated circuits based on the design specifications of its customers. It currently has negative earnings. It makes semiconductors for its clients primarily based on third-party designs.
According to Zacks Investment Research, “Tower Semiconductor Ltd. is an independent manufacturer and service provider of semiconductor integrated circuits on silicon wafers. They provide IC design, manufacturing and turnkey services using advanced production capabilities and the proprietary IC designs of their customers, and are specializing in providing solutions for embedded non-volatile memory devices and CMOS image sensors. (press release)”