Brokerages Expect Tower Semiconductor Ltd. (TSEM) to Announce $0.57 Earnings Per Share

Equities analysts predict that Tower Semiconductor Ltd. (NASDAQ:TSEM) will announce earnings of $0.57 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 $0.56 and the highest is $0.57. Tower Semiconductor reported earnings per share of $0.54 in the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is expected to report its next quarterly earnings report before the market opens on Thursday, February 22nd.

On average, analysts expect that Tower Semiconductor will report full-year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $2.17. For the next year, analysts expect that the company will report earnings of $2.46 per share, with EPS estimates ranging from $2.36 to $2.56. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Tower Semiconductor.

A number of research firms have recently issued reports on TSEM. Drexel Hamilton reiterated a “buy” rating and issued a $46.00 price objective on shares of Tower Semiconductor in a report on Wednesday, November 29th. BidaskClub upgraded Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Needham & Company LLC upped their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 30th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Credit Suisse Group upped their price objective on Tower Semiconductor from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Tower Semiconductor has an average rating of “Buy” and a consensus price target of $43.75.

Tower Semiconductor (NASDAQ TSEM) traded up $0.18 on Friday, hitting $31.67. The stock had a trading volume of 551,965 shares, compared to its average volume of 607,546. Tower Semiconductor has a 1 year low of $20.60 and a 1 year high of $36.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85. The stock has a market cap of $3,118.16, a PE ratio of 16.08, a P/E/G ratio of 0.86 and a beta of 0.92.

A number of hedge funds have recently modified their holdings of TSEM. JPMorgan Chase & Co. boosted its holdings in Tower Semiconductor by 687.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 80,243 shares of the semiconductor company’s stock valued at $1,914,000 after acquiring an additional 70,049 shares during the period. Wells Fargo & Company MN boosted its holdings in Tower Semiconductor by 9.2% during the 2nd quarter. Wells Fargo & Company MN now owns 88,285 shares of the semiconductor company’s stock valued at $2,106,000 after acquiring an additional 7,445 shares during the period. Vanguard Group Inc. boosted its holdings in Tower Semiconductor by 22.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock valued at $43,902,000 after acquiring an additional 331,647 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Tower Semiconductor by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after acquiring an additional 876 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Tower Semiconductor by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 243,715 shares of the semiconductor company’s stock valued at $5,813,000 after acquiring an additional 10,885 shares during the period. Institutional investors own 43.82% 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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