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

Wall Street analysts expect Tower Semiconductor Ltd. (NASDAQ:TSEM) to post $0.25 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Tower Semiconductor’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.25. Tower Semiconductor reported earnings per share of $0.41 during the same quarter last year, which suggests a negative year over year growth rate of 39%. The firm is scheduled to report its next earnings report on Tuesday, February 18th.

According to Zacks, analysts expect that Tower Semiconductor will report full-year earnings of $1.01 per share for the current fiscal year. For the next financial year, analysts anticipate that the business will post earnings of $1.33 per share, with EPS estimates ranging from $1.26 to $1.39. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Tower Semiconductor.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $312.10 million for the quarter, compared to analyst estimates of $312.05 million. Tower Semiconductor had a return on equity of 9.63% and a net margin of 8.51%. Tower Semiconductor’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Several research analysts have commented on the company. ValuEngine downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Craig Hallum reaffirmed a “buy” rating and set a $32.00 target price (up from $24.00) on shares of Tower Semiconductor in a report on Thursday, November 14th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Tower Semiconductor in a report on Wednesday, November 13th. Finally, BidaskClub raised Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Two investment 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 company’s stock. Tower Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $26.57.

TSEM traded up $0.22 during midday trading on Friday, hitting $25.28. 6,142 shares of the company were exchanged, compared to its average volume of 307,550. The firm has a market capitalization of $2.51 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.16 and a beta of 1.20. Tower Semiconductor has a 1-year low of $13.57 and a 1-year high of $25.80. The firm’s 50 day moving average price is $23.98 and its 200-day moving average price is $20.82. The company has a quick ratio of 3.70, a current ratio of 4.50 and a debt-to-equity ratio of 0.19.

Institutional investors and hedge funds have recently made changes to their positions in the business. Phoenix Holdings Ltd. acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $60,498,000. Vanguard Group Inc. lifted its stake in shares of Tower Semiconductor by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,613,809 shares of the semiconductor company’s stock valued at $41,220,000 after purchasing an additional 203,707 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Tower Semiconductor by 1.8% in the 2nd quarter. Macquarie Group Ltd. now owns 2,357,595 shares of the semiconductor company’s stock valued at $37,179,000 after purchasing an additional 42,248 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Tower Semiconductor by 14.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,553,786 shares of the semiconductor company’s stock valued at $24,503,000 after purchasing an additional 197,500 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Tower Semiconductor by 2.5% in the 2nd quarter. Bank of America Corp DE now owns 786,286 shares of the semiconductor company’s stock valued at $12,399,000 after purchasing an additional 19,203 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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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