Brokerages Anticipate Tower Semiconductor Ltd. (NASDAQ:TSEM) to Post $0.17 Earnings Per Share

Wall Street brokerages forecast that Tower Semiconductor Ltd. (NASDAQ:TSEM) will post earnings of $0.17 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tower Semiconductor’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.17. Tower Semiconductor reported earnings of $0.25 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 32%. The firm is expected to report its next earnings results before the market opens on Thursday, November 12th.

On average, analysts expect that Tower Semiconductor will report full-year earnings of $0.84 per share for the current year, with EPS estimates ranging from $0.79 to $0.88. For the next year, analysts anticipate that the company will post earnings of $1.22 per share, with EPS estimates ranging from $1.04 to $1.40. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Tower Semiconductor.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Tower Semiconductor had a return on equity of 5.95% and a net margin of 6.43%. The company had revenue of $310.09 million during the quarter, compared to analysts’ expectations of $310.00 million.

A number of brokerages have commented on TSEM. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Tower Semiconductor in a research report on Wednesday, July 29th. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, October 13th.

TSEM traded down $0.35 on Friday, reaching $19.48. 173,002 shares of the stock were exchanged, compared to its average volume of 407,480. The company’s 50-day moving average price is $18.83 and its 200 day moving average price is $19.52. Tower Semiconductor has a fifty-two week low of $12.13 and a fifty-two week high of $25.80. 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 firm has a market capitalization of $2.08 billion, a PE ratio of 26.32 and a beta of 1.34.

Hedge funds have recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Tower Semiconductor in the 2nd quarter valued at about $9,270,000. US Bancorp DE raised its holdings in Tower Semiconductor by 604.4% in the 1st quarter. US Bancorp DE now owns 24,120 shares of the semiconductor company’s stock worth $383,000 after purchasing an additional 20,696 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tower Semiconductor by 16.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,875 shares of the semiconductor company’s stock worth $360,000 after purchasing an additional 2,608 shares during the period. HighTower Advisors LLC raised its holdings in Tower Semiconductor by 9.8% in the 1st quarter. HighTower Advisors LLC now owns 210,473 shares of the semiconductor company’s stock worth $3,320,000 after purchasing an additional 18,815 shares during the period. Finally, UBS Group AG raised its holdings in Tower Semiconductor by 32.5% in the 2nd quarter. UBS Group AG now owns 119,752 shares of the semiconductor company’s stock worth $2,286,000 after purchasing an additional 29,371 shares during the period. 53.89% of the stock is owned by institutional investors and hedge funds.

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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