Equities research analysts expect that Tower Semiconductor Ltd. (NASDAQ:TSEM) will announce $360.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Tower Semiconductor’s earnings. Tower Semiconductor reported sales of $310.09 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.1%. The business is expected to report its next quarterly earnings results on Wednesday, August 4th.
On average, analysts expect that Tower Semiconductor will report full year sales of $1.45 billion for the current financial year. For the next financial year, analysts forecast that the company will post sales of $1.53 billion, with estimates ranging from $1.52 billion to $1.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Tower Semiconductor.
Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $347.20 million during the quarter, compared to the consensus estimate of $345.09 million. Tower Semiconductor had a return on equity of 6.65% and a net margin of 7.13%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share.
Large investors have recently modified their holdings of the company. Parsifal Capital Management LP increased its holdings in Tower Semiconductor by 3.8% in the 1st quarter. Parsifal Capital Management LP now owns 2,189,527 shares of the semiconductor company’s stock worth $61,394,000 after buying an additional 79,735 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Tower Semiconductor by 1.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,186,766 shares of the semiconductor company’s stock worth $61,317,000 after buying an additional 35,030 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Tower Semiconductor by 11.0% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,458,357 shares of the semiconductor company’s stock worth $40,892,000 after buying an additional 144,196 shares in the last quarter. Phoenix Holdings Ltd. increased its holdings in Tower Semiconductor by 11.4% in the 1st quarter. Phoenix Holdings Ltd. now owns 1,281,230 shares of the semiconductor company’s stock worth $35,926,000 after buying an additional 131,484 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its holdings in Tower Semiconductor by 1.7% in the 1st quarter. Neumeier Poma Investment Counsel LLC now owns 1,267,565 shares of the semiconductor company’s stock worth $35,543,000 after buying an additional 21,375 shares in the last quarter. Hedge funds and other institutional investors own 55.23% of the company’s stock.
TSEM opened at $27.27 on Friday. The business has a fifty day moving average price of $28.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.30 and a current ratio of 4.02. The company has a market capitalization of $2.91 billion, a P/E ratio of 31.71 and a beta of 1.38. Tower Semiconductor has a 12-month low of $17.61 and a 12-month high of $34.45.
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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