$0.53 Earnings Per Share Expected for Tower Semiconductor Ltd. (TSEM) This Quarter
Equities analysts predict that Tower Semiconductor Ltd. (NASDAQ:TSEM) will announce earnings of $0.53 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tower Semiconductor’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.54. Tower Semiconductor reported earnings per share of $0.51 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The company is expected to report its next quarterly earnings report on Tuesday, November 21st.
On average, analysts expect that Tower Semiconductor will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.91 to $2.10. For the next year, analysts expect that the company will report earnings of $2.19 per share, with EPS estimates ranging from $2.07 to $2.31. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Tower Semiconductor.
Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The company had revenue of $345.10 million during the quarter, compared to analyst estimates of $344.98 million. During the same quarter in the previous year, the company posted $0.45 EPS. Tower Semiconductor’s revenue for the quarter was up 13.1% on a year-over-year basis.
Several research analysts recently commented on TSEM shares. BidaskClub upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target on shares of Tower Semiconductor in a research report on Wednesday, June 21st. Finally, ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.50.
Tower Semiconductor (TSEM) traded up 0.81% during midday trading on Tuesday, hitting $29.90. The stock had a trading volume of 249,337 shares. The company has a market capitalization of $2.93 billion, a PE ratio of 15.31 and a beta of 1.02. Tower Semiconductor has a 1-year low of $14.85 and a 1-year high of $30.54. The stock’s 50-day moving average is $27.45 and its 200-day moving average is $24.82.
Several large investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in shares of Tower Semiconductor by 9.3% during the second quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 876 shares during the period. First Allied Advisory Services Inc. boosted its position in shares of Tower Semiconductor by 2.1% during the second quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock valued at $1,068,000 after buying an additional 905 shares during the period. Sei Investments Co. boosted its position in shares of Tower Semiconductor by 12.7% during the first quarter. Sei Investments Co. now owns 10,593 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 1,190 shares during the period. Dupont Capital Management Corp boosted its position in shares of Tower Semiconductor by 24.4% during the second quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 1,219 shares during the period. Finally, Renaissance Group LLC boosted its position in shares of Tower Semiconductor by 8.9% during the second quarter. Renaissance Group LLC now owns 19,195 shares of the semiconductor company’s stock valued at $458,000 after buying an additional 1,576 shares during the period. Institutional investors and hedge funds own 49.19% of the company’s stock.
Tower Semiconductor Company Profile
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. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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