Brokerages expect that Tower Semiconductor Ltd. (NASDAQ:TSEM) will report $358.25 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Tower Semiconductor’s earnings, with the highest sales estimate coming in at $358.50 million and the lowest estimate coming in at $358.00 million. Tower Semiconductor reported sales of $340.38 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The business is scheduled to announce its next earnings results on Monday, February 12th.

According to Zacks, analysts expect that Tower Semiconductor will report full year sales of $358.25 million for the current fiscal year. For the next financial year, analysts expect that the firm will report sales of $1.48 billion per share, with estimates ranging from $1.47 billion to $1.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Tower Semiconductor.

A number of research firms have weighed in on TSEM. Credit Suisse Group boosted their target price on shares of Tower Semiconductor from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 15th. BidaskClub upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. ValuEngine upgraded shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Needham & Company LLC lifted their price target on shares of Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 30th. Finally, Craig Hallum reiterated a “buy” rating and set a $39.00 price target (up previously from $32.00) on shares of Tower Semiconductor in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Tower Semiconductor currently has a consensus rating of “Buy” and an average price target of $43.75.

Tower Semiconductor (NASDAQ TSEM) traded up $0.02 during midday trading on Thursday, hitting $33.41. 502,519 shares of the company’s stock were exchanged, compared to its average volume of 696,286. The company has a market capitalization of $3,160.00, a PE ratio of 15.99, a PEG ratio of 1.13 and a beta of 0.97. Tower Semiconductor has a 12-month low of $18.38 and a 12-month high of $36.69. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34.

Several large investors have recently modified their holdings of TSEM. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Tower Semiconductor during the third quarter worth $18,035,000. Monarch Partners Asset Management LLC acquired a new position in shares of Tower Semiconductor during the third quarter worth $15,362,000. Bank of Nova Scotia acquired a new position in shares of Tower Semiconductor during the second quarter worth $9,068,000. Vanguard Group Inc. lifted its holdings in Tower Semiconductor by 22.0% in the second quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock valued at $43,902,000 after buying an additional 331,647 shares during the period. Finally, Ion Asset Management Ltd. lifted its holdings in Tower Semiconductor by 60.8% in the second quarter. Ion Asset Management Ltd. now owns 833,530 shares of the semiconductor company’s stock valued at $19,880,000 after buying an additional 315,247 shares during the period. Institutional investors own 42.33% of the company’s stock.

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About Tower Semiconductor

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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Earnings History and Estimates for Tower Semiconductor (NASDAQ:TSEM)

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