Tower Semiconductor Ltd. (TSEM) Announces Earnings Results
Tower Semiconductor Ltd. (NASDAQ:TSEM) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01, Briefing.com reports. The business had revenue of $354.60 million for the quarter, compared to analysts’ expectations of $355.13 million. Tower Semiconductor had a net margin of 14.53% and a return on equity of 28.28%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 earnings per share.
Tower Semiconductor (NASDAQ:TSEM) opened at $32.19 on Wednesday. The stock has a market cap of $3,254.26, a PE ratio of 16.25, a PEG ratio of 1.12 and a beta of 0.96. The company has a current ratio of 3.18, a quick ratio of 2.63 and a debt-to-equity ratio of 0.37. Tower Semiconductor has a 1 year low of $15.30 and a 1 year high of $33.36.
A number of analysts have commented on the stock. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Credit Suisse Group assumed coverage on shares of Tower Semiconductor in a research report on Tuesday, September 26th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, BidaskClub raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Tower Semiconductor currently has an average rating of “Buy” and a consensus target price of $33.00.
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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