Wall Street brokerages predict that Tower Semiconductor Ltd. (NASDAQ:TSEM) will report $312.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tower Semiconductor’s earnings. Tower Semiconductor posted sales of $322.60 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The firm is scheduled to issue its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Tower Semiconductor will report full-year sales of $1.25 billion for the current year, with estimates ranging from $1.24 billion to $1.25 billion. For the next year, analysts expect that the company will post sales of $1.35 billion, with estimates ranging from $1.31 billion to $1.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Tower Semiconductor.
Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Tower Semiconductor had a return on equity of 11.19% and a net margin of 9.34%. The business had revenue of $306.06 million for the quarter, compared to analyst estimates of $303.15 million. During the same quarter last year, the firm earned $0.42 EPS. Tower Semiconductor’s revenue for the quarter was down 8.7% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the business. AlphaCrest Capital Management LLC acquired a new position in Tower Semiconductor during the 1st quarter worth approximately $291,000. Clearbridge Investments LLC raised its holdings in shares of Tower Semiconductor by 3.4% during the first quarter. Clearbridge Investments LLC now owns 1,202,823 shares of the semiconductor company’s stock worth $19,919,000 after purchasing an additional 39,661 shares during the last quarter. FMR LLC purchased a new position in shares of Tower Semiconductor during the first quarter worth $6,253,000. Cortina Asset Management LLC raised its holdings in shares of Tower Semiconductor by 5.2% during the second quarter. Cortina Asset Management LLC now owns 419,884 shares of the semiconductor company’s stock worth $6,622,000 after purchasing an additional 20,784 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC raised its holdings in shares of Tower Semiconductor by 19.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 165,561 shares of the semiconductor company’s stock worth $2,610,000 after purchasing an additional 27,316 shares during the last quarter. Hedge funds and other institutional investors own 51.09% of the company’s stock.
TSEM stock traded down $0.14 during mid-day trading on Monday, reaching $22.29. The company had a trading volume of 498,730 shares, compared to its average volume of 436,825. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.82 and a quick ratio of 3.99. The stock has a 50 day simple moving average of $19.97 and a two-hundred day simple moving average of $17.92. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 2.52 and a beta of 1.23. Tower Semiconductor has a 52 week low of $13.56 and a 52 week high of $22.61.
Tower Semiconductor Company Profile
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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