Needham Keeps Their Buy Rating on Tower Semiconductor (TSEM)

Needham analyst Rajvindra Gill maintained a Buy rating on Tower Semiconductor (TSEMResearch Report) today and set a price target of $30.00. The company’s shares closed last Monday at $22.07.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 15.7% and a 59.4% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Currently, the analyst consensus on Tower Semiconductor is a Strong Buy with an average price target of $29.67.

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Based on Tower Semiconductor’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $22.19 million. In comparison, last year the company had a net profit of $33.65 million.

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Tower Semiconductor Ltd. engages in the manufacture of integrated circuits. the firm operates through the TowerJazz brand. Its process platforms include SiGe, BiCMOS, mixed-signal/CMOS, radio frequency complementary metal-oxide semiconductor, CMOS image sensor, integrated power management, and micro-electromechanical systems.