Tower Semiconductor Ltd. (TSEM) Stock Price Up 1.9%
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) rose 1.9% during trading on Thursday . The stock traded as high as $16.00 and last traded at $15.97, with a volume of 238,151 shares changing hands. The stock had previously closed at $15.67.
TSEM has been the subject of several analyst reports. Drexel Hamilton reiterated a “positive” rating and set a $28.00 price objective on shares of Tower Semiconductor in a report on Friday, August 5th. Needham & Company LLC reissued a “strong-buy” rating and issued a $18.00 target price on shares of Tower Semiconductor in a research report on Monday, May 9th. Finally, TheStreet raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.00.
The stock’s 50-day moving average is $14.51 and its 200-day moving average is $12.88. The stock has a market cap of $1.38 billion and a PE ratio of 9.87.
Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.10. The business earned $305 million during the quarter, compared to analyst estimates of $300 million. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, analysts predict that Tower Semiconductor Ltd. will post $1.54 earnings per share for the current year.
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. It manufactures semiconductors for its customers primarily based on third-party designs.
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