Wall Street analysts expect Tower Semiconductor Ltd. (NASDAQ:TSEM) to report sales of $358.25 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tower Semiconductor’s earnings. The highest sales estimate is $358.50 million and the lowest is $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 firm is expected to report its next earnings results before the market opens on Thursday, February 22nd.
On average, analysts expect that Tower Semiconductor will report full year sales of $358.25 million for the current fiscal year. For the next year, analysts anticipate that the firm will report sales of $1.48 billion per share, with estimates ranging from $1.47 billion to $1.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Tower Semiconductor.
TSEM has been the subject of several recent research reports. Drexel Hamilton lifted their target price on shares of Tower Semiconductor from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Craig Hallum reiterated a “buy” rating and issued a $39.00 target price (up previously from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. Credit Suisse Group lifted 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. Needham & Company LLC lifted their target price on shares of Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 30th. Finally, BidaskClub downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.75.
Tower Semiconductor (NASDAQ TSEM) opened at $32.41 on Tuesday. The firm has a market cap of $3,000.00, a PE ratio of 17.81, a PEG ratio of 0.86 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85. Tower Semiconductor has a 12 month low of $20.60 and a 12 month high of $36.69.
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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