Analysts Expect Tower Semiconductor Ltd. (NASDAQ:TSEM) Will Post Earnings of $0.23 Per Share

Equities research analysts predict that Tower Semiconductor Ltd. (NASDAQ:TSEM) will post $0.23 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Tower Semiconductor’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.22. Tower Semiconductor reported earnings per share of $0.42 in the same quarter last year, which indicates a negative year over year growth rate of 45.2%. The company is expected to issue its next earnings report before the market opens on Monday, July 29th.

On average, analysts expect that Tower Semiconductor will report full-year earnings of $1.02 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.04. For the next financial year, analysts anticipate that the firm will post earnings of $1.40 per share, with EPS estimates ranging from $1.27 to $1.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Tower Semiconductor.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, May 15th. The semiconductor company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). Tower Semiconductor had a net margin of 10.43% and a return on equity of 13.06%. The company had revenue of $310.11 million for the quarter, compared to analysts’ expectations of $309.67 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis.

A number of research firms recently commented on TSEM. BidaskClub raised Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Credit Suisse Group raised United Microelectronics from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Synopsys in a report on Thursday, March 28th. Finally, TheStreet raised Exantas Capital from a “d+” rating to a “c” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $23.29.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC lifted its position in Tower Semiconductor by 19.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 165,561 shares of the semiconductor company’s stock worth $2,610,000 after buying an additional 27,316 shares in the last quarter. Cortina Asset Management LLC lifted its holdings in Tower Semiconductor by 5.2% during the 2nd quarter. Cortina Asset Management LLC now owns 419,884 shares of the semiconductor company’s stock worth $6,622,000 after buying an additional 20,784 shares during the last quarter. FMR LLC purchased a new stake in shares of Tower Semiconductor in the 1st quarter valued at about $6,253,000. Clearbridge Investments LLC lifted its holdings in shares of Tower Semiconductor by 3.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,202,823 shares of the semiconductor company’s stock valued at $19,919,000 after purchasing an additional 39,661 shares during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Tower Semiconductor by 27.3% in the 1st quarter. ARK Investment Management LLC now owns 31,661 shares of the semiconductor company’s stock valued at $524,000 after purchasing an additional 6,784 shares during the last quarter. 52.14% of the stock is currently owned by institutional investors.

Shares of TSEM stock traded up $0.16 during trading hours on Friday, reaching $16.69. 4,297 shares of the company traded hands, compared to its average volume of 259,725. The stock’s 50-day moving average price is $15.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.73 and a current ratio of 4.51. Tower Semiconductor has a 12-month low of $13.56 and a 12-month high of $23.55. The stock has a market cap of $1.64 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.87 and a beta of 1.26.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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

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