Tower Semiconductor (TSEM) Draws Attention for High-Growth Tech Exposure

Tower Semiconductor Ltd. (NASDAQ:TSEM) ranks among the best cheap semiconductor stocks to buy. On September 18, Barclays began coverage of Tower Semiconductor Ltd. (NASDAQ:TSEM) with a price target of $74 and an Equalweight rating. Barclays emphasized Tower’s exposure to high-growth Silicon Photonics and Silicon Germanium technologies, which are among the company’s fastest-growing divisions.

Along with Tower’s history of successful collaborations with companies like Intel to share facility capacity, the firm highlighted Tower’s diverse end markets and geographic distribution throughout Israel, Japan, the US, and Italy.

Additionally, Barclays cited Tower’s robust balance sheet, which has $1 billion in net cash on hand, and its ambitious roadmap, which calls for a $2.7 billion revenue run-rate with an operating margin of at least 21% when its $1.2 billion capital expenditure program is complete.

Tower Semiconductor Ltd. (NASDAQ:TSEM) is an independent semiconductor foundry based in Israel. It focuses on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices.

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Disclosure: None. This article is originally published at Insider Monkey.