$0.56 EPS Expected for Tower Semiconductor Ltd. (TSEM) This Quarter

Equities research analysts expect Tower Semiconductor Ltd. (NASDAQ:TSEM) to report $0.56 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Tower Semiconductor’s earnings. Tower Semiconductor reported earnings per share of $0.54 during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is expected to issue its next earnings report on Monday, February 12th.

On average, analysts expect that Tower Semiconductor will report full year earnings of $2.07 per share for the current year, with EPS estimates ranging from $2.03 to $2.10. For the next financial year, analysts expect that the business will post earnings of $2.34 per share, with EPS estimates ranging from $2.31 to $2.36. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Tower Semiconductor.

TSEM has been the topic of several analyst reports. Drexel Hamilton upped their price target on shares of Tower Semiconductor from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. BidaskClub lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Credit Suisse Group initiated coverage on shares of Tower Semiconductor in a research report on Tuesday, September 26th. They set an “outperform” rating and a $36.00 price target on the stock. Craig Hallum reaffirmed a “buy” rating and set a $39.00 price target (up from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. Finally, ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.00.

Tower Semiconductor (TSEM) traded down $0.21 during midday trading on Thursday, reaching $34.59. 282,178 shares of the company’s stock traded hands, compared to its average volume of 627,446. 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 1 year low of $17.36 and a 1 year high of $35.00. The company has a market capitalization of $3,395.62, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.15 and a beta of 0.96.

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Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings 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 valued at $43,902,000 after purchasing an additional 331,647 shares during the last quarter. Macquarie Group Ltd. increased its holdings 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 purchasing an additional 123,841 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Tower Semiconductor by 15.3% in the second quarter. Hodges Capital Management Inc. now owns 1,327,830 shares of the semiconductor company’s stock valued at $31,669,000 after purchasing an additional 175,855 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Tower Semiconductor by 8.1% in the second quarter. Renaissance Technologies LLC now owns 1,238,386 shares of the semiconductor company’s stock valued at $29,536,000 after purchasing an additional 93,200 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Tower Semiconductor by 14.4% in the second quarter. Rice Hall James & Associates LLC now owns 1,039,609 shares of the semiconductor company’s stock valued at $24,795,000 after purchasing an additional 130,717 shares during the last quarter. Hedge funds and other institutional investors own 44.73% of the company’s stock.

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

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