Analysts Offer Predictions for TSEM FY2024 Earnings

Tower Semiconductor Ltd. (NASDAQ:TSEM) – Research analysts at Wedbush issued their FY2024 earnings per share estimates for shares of Tower Semiconductor in a research note issued to investors on Monday, February 3rd. Wedbush analyst M. Bryson forecasts that the semiconductor company will post earnings of $1.85 per share for the year. Wedbush currently has a “Outperform” rating and a $60.00 target price on the stock. The consensus estimate for Tower Semiconductor’s current full-year earnings is $1.77 per share. Wedbush also issued estimates for Tower Semiconductor’s Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.18 EPS, Q1 2026 earnings at $0.57 EPS, Q2 2026 earnings at $0.63 EPS, Q3 2026 earnings at $0.67 EPS, Q4 2026 earnings at $0.67 EPS and FY2026 earnings at $2.55 EPS.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year.

Several other analysts have also recently issued reports on the company. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna lifted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.75.

Tower Semiconductor Trading Up 0.7 %

Shares of TSEM opened at $49.74 on Wednesday. The firm has a fifty day simple moving average of $50.59 and a two-hundred day simple moving average of $45.48. Tower Semiconductor has a twelve month low of $28.11 and a twelve month high of $55.31. The stock has a market capitalization of $5.51 billion, a P/E ratio of 26.89 and a beta of 0.88. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Transcendent Capital Group LLC bought a new position in shares of Tower Semiconductor during the third quarter valued at approximately $27,000. USA Financial Formulas purchased a new stake in shares of Tower Semiconductor in the 3rd quarter worth approximately $38,000. R Squared Ltd purchased a new position in Tower Semiconductor during the fourth quarter valued at $61,000. Blue Trust Inc. boosted its holdings in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

About Tower Semiconductor

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