Equities analysts expect that Tower Semiconductor Ltd. (NASDAQ:TSEM) will announce earnings of $0.25 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Tower Semiconductor’s earnings. The lowest EPS estimate is $0.24 and the highest is $0.25. Tower Semiconductor posted earnings of $0.41 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 39%. The firm is scheduled to announce its next earnings results on Tuesday, February 18th.
On average, analysts expect that Tower Semiconductor will report full-year earnings of $1.01 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $1.33 per share, with EPS estimates ranging from $1.26 to $1.39. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Tower Semiconductor.
Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. Tower Semiconductor had a net margin of 8.51% and a return on equity of 9.63%. The business had revenue of $312.10 million during the quarter, compared to the consensus estimate of $312.05 million. During the same quarter last year, the firm posted $0.37 EPS. Tower Semiconductor’s revenue was down 3.3% compared to the same quarter last year.
TSEM has been the subject of several research reports. BidaskClub downgraded shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. ValuEngine downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Craig Hallum reissued a “buy” rating and issued a $32.00 price target (up previously from $24.00) on shares of Tower Semiconductor in a research report on Thursday, November 14th. They noted that the move was a valuation call. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Tower Semiconductor in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $26.57.
NASDAQ TSEM traded up $0.52 during mid-day trading on Wednesday, hitting $22.62. The company’s stock had a trading volume of 302,863 shares, compared to its average volume of 453,849. The company’s 50 day simple moving average is $22.28 and its 200 day simple moving average is $18.95. Tower Semiconductor has a twelve month low of $13.56 and a twelve month high of $24.26. The company has a current ratio of 4.50, a quick ratio of 3.70 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 2.52 and a beta of 1.18.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its holdings in Tower Semiconductor by 7.1% during the 2nd quarter. HighTower Advisors LLC now owns 224,516 shares of the semiconductor company’s stock worth $3,515,000 after acquiring an additional 14,827 shares during the last quarter. Systematic Financial Management LP purchased a new position in Tower Semiconductor during the 3rd quarter worth $1,102,000. Paloma Partners Management Co purchased a new position in Tower Semiconductor during the 2nd quarter worth $256,000. Menora Mivtachim Holdings LTD. boosted its holdings in Tower Semiconductor by 39.0% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 605,459 shares of the semiconductor company’s stock worth $11,649,000 after acquiring an additional 170,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Tower Semiconductor during the 3rd quarter worth $1,104,000. 55.82% of the stock is owned by institutional investors and hedge funds.
About Tower Semiconductor
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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