$358.25 Million in Sales Expected for Tower Semiconductor Ltd. (TSEM) This Quarter

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.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Tower Semiconductor by 22.0% in the second quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock worth $43,902,000 after purchasing an additional 331,647 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Tower Semiconductor by 7.5% in the third quarter. Macquarie Group Ltd. now owns 1,770,009 shares of the semiconductor company’s stock valued at $54,427,000 after acquiring an additional 123,841 shares during the period. Menora Mivtachim Holdings LTD. boosted its position in shares of Tower Semiconductor by 15.5% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,008,313 shares of the semiconductor company’s stock valued at $31,006,000 after acquiring an additional 135,681 shares during the period. Bank Hapoalim BM boosted its position in shares of Tower Semiconductor by 0.4% in the third quarter. Bank Hapoalim BM now owns 975,117 shares of the semiconductor company’s stock valued at $29,985,000 after acquiring an additional 3,910 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in shares of Tower Semiconductor by 2.8% in the third quarter. Wasatch Advisors Inc. now owns 768,114 shares of the semiconductor company’s stock valued at $23,620,000 after acquiring an additional 20,820 shares during the period. Hedge funds and other institutional investors own 43.64% of the company’s stock.

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.

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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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