Equities research analysts predict that Tower Semiconductor Ltd. (NASDAQ:TSEM) will report sales of $309.50 million for the current quarter, according to Zacks. Two analysts have made estimates for Tower Semiconductor’s earnings, with the highest sales estimate coming in at $310.00 million and the lowest estimate coming in at $309.00 million. Tower Semiconductor reported sales of $312.12 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The firm is expected to announce its next earnings report before the market opens on Thursday, November 12th.
On average, 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 financial year, analysts expect that the business will post sales of $1.33 billion, with estimates ranging from $1.32 billion to $1.34 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Tower Semiconductor.
Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $310.09 million during the quarter, compared to analyst estimates of $310.00 million. Tower Semiconductor had a return on equity of 5.95% and a net margin of 6.43%.
Several large investors have recently bought and sold shares of TSEM. FMR LLC purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $6,253,000. Commonwealth Equity Services LLC raised its position in Tower Semiconductor by 12.0% during the first quarter. Commonwealth Equity Services LLC now owns 11,818 shares of the semiconductor company’s stock valued at $188,000 after purchasing an additional 1,263 shares during the period. JPMorgan Chase & Co. raised its position in Tower Semiconductor by 338.6% during the first quarter. JPMorgan Chase & Co. now owns 34,599 shares of the semiconductor company’s stock valued at $551,000 after purchasing an additional 26,711 shares during the period. US Bancorp DE raised its position in Tower Semiconductor by 604.4% during the first quarter. US Bancorp DE now owns 24,120 shares of the semiconductor company’s stock valued at $383,000 after purchasing an additional 20,696 shares during the period. Finally, M&T Bank Corp raised its position in Tower Semiconductor by 11.0% during the first quarter. M&T Bank Corp now owns 22,790 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 2,254 shares during the period. Institutional investors own 53.89% of the company’s stock.
Shares of NASDAQ TSEM traded down $0.35 during mid-day trading on Tuesday, reaching $19.48. The company’s stock had a trading volume of 173,002 shares, compared to its average volume of 407,480. The firm has a market capitalization of $2.08 billion, a PE ratio of 26.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.51 and a quick ratio of 2.83. The stock has a fifty day moving average of $18.83 and a two-hundred day moving average of $19.52. Tower Semiconductor has a 52 week low of $12.13 and a 52 week high of $25.80.
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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