Tower Semiconductor (NASDAQ:TSEM) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Tower Semiconductor (NASDAQ:TSEM) released its quarterly earnings results on Wednesday. The semiconductor company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01, Briefing.com reports. Tower Semiconductor had a return on equity of 11.19% and a net margin of 9.34%. The company had revenue of $312.10 million for the quarter, compared to analyst estimates of $312.05 million. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis.

NASDAQ:TSEM traded down $0.62 during trading hours on Thursday, reaching $22.61. 523,200 shares of the company traded hands, compared to its average volume of 460,593. The business’s 50-day moving average price is $21.38 and its two-hundred day moving average price is $18.52. The stock has a market capitalization of $2.24 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.56 and a beta of 1.27. Tower Semiconductor has a 1 year low of $13.56 and a 1 year high of $24.26. The company has a current ratio of 4.82, a quick ratio of 3.99 and a debt-to-equity ratio of 0.21.

TSEM has been the topic of several research reports. TheStreet lowered Tower Semiconductor from a “b-” rating to a “c” rating in a research report on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Tower Semiconductor in a research report on Wednesday. Craig Hallum restated a “buy” rating and set a $32.00 price target (up from $24.00) on shares of Tower Semiconductor in a research report on Thursday. They noted that the move was a valuation call. BidaskClub upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Finally, ValuEngine lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.57.

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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Earnings History for Tower Semiconductor (NASDAQ:TSEM)

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