Tower Semiconductor Ltd.

Tower Semiconductor is a pure-play independent specialty foundry dedicated to the manufacturing of semiconductors. Typically, pure-play foundries do not offer products of their own, but focus on producing integrated circuits based on the design specifications of their customers. Co. manufactures semiconductors using advanced production processes for Co.'s customers primarily based on third party designs and Co.'s own proprietary designs. Co. offers the manufacture of integrated circuits with geometries ranging from 1.0 to 45-nanometers. Co. also provides design support and complementary technical services.
  • TickerTSEM
  • ISINIL0010823792
  • ExchangeTel-Aviv Stock Exchange
  • SectorTechnology Hardware & Equipment
  • CountryIsrael

TOWER (TAE) increases its risk exposure and slightly lowers to Neutral

TOWER (TAE) (IL), a company active in the Semiconductors industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date April 2, 2021, the closing price was ILS 94.10 and its expected value was estimated at ILS 95.80.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Macro Vision: Sector Synopsis

The following synopsis provides Summary details of our current investment outlook: • U.S. dollar: The U.S. dollar had attempted a breakdown but has thus far held firm at the 96.61 level. However, the longer-term downtrend remains intact with the dollar unable to overtake its 200-day moving average at 97.70. A break to the downside will tip the scale in the direction of emerging markets and precious metals, while a break to the upside will likely foster another surge into growth related names. • High yield spreads: Spreads continue to narrow and suggest a risk-on environment. The Fed re...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Growth Surging Relative to Value Note: This report is presented in an abbreviated format, as we are in production of our January US Macro Vision book. As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted below: • Price Trends Remain Bullish. Price trends for major indexes in the US (large-, mid-, and small-caps) and abroad (MSCI EM and EAFE) remain on bullish trajectories. • Internals are Healthy. Advance/decline lines for large-, mid-, and small-caps (S&P 500, 400, and 600, respectively) remain in uptrends...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Overweight Global Technology & Industrials The absence of breakdowns in both the US dollar (DXY) and the MSCI EAFE vs. EM ratio along with the positive correlation between the two allows us to continue sticking with EAFE over EM... see charts below. As long as the DXY's uptrend remains intact, we expect EAFE to continue outperforming EM. Below we highlight attractive and actionable themes within developed int'l markets: • Technology and Industrial Manufacturing. Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Macro Vision: Sector Synopsis

STRATEGY: Up and to the Right In our September Macro Vision strategy, we suggested shifting towards value oriented names, which continue to outperform growth. We also believed breadth would improve followed by likely new highs and if the cyclicals could bottom it would reflect optimism that a recession has been shelved. In hindsight, there have been improvements in many of the cyclical Sectors (Manufacturing, Transportation, and Basic Materials) and a move away from defensive areas of the market (Services, Consumer Staples, and Utilities). Historically rotations such as this provide a favorab...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Fed cut, now what? The Fed's 25 bps cut and Powell's evasiveness in committing to a new easing cycle was seen as more hawkish than expected. In our opinion Powell was essentially saying the Fed will act as appropriate moving forward, and we can't blame him considering this was largely an “insurance cut” as opposed to a rescue attempt to avoid recession, and we may or may not need additional insurance moving forward. Overall the weight of the evidence supports further consolidation - i.e., no breakouts for now - on the broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM), and conside...

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TOWER (TAE) increases its risk exposure and slightly lowers to Neutral

TOWER (TAE) (IL), a company active in the Semiconductors industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date April 2, 2021, the closing price was ILS 94.10 and its expected value was estimated at ILS 95.80.

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