Zacks: Brokerages Anticipate Tower Semiconductor Ltd. (NASDAQ:TSEM) Will Announce Earnings of $0.25 Per Share

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.

Read More: G-20

Get a free copy of the Zacks research report on Tower Semiconductor (TSEM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Tower Semiconductor (NASDAQ:TSEM)

Receive News & Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.