Equities analysts expect Tower Semiconductor Ltd. (NASDAQ:TSEM) to announce $0.23 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tower Semiconductor’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.23. Tower Semiconductor posted earnings per share of $0.42 during the same quarter last year, which suggests a negative year over year growth rate of 45.2%. The company is scheduled to issue its next earnings results 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 fiscal year, with EPS estimates ranging from $1.00 to $1.04. For the next 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 averages are a mean average based on a survey of sell-side research analysts that cover Tower Semiconductor.

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

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

Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC lifted its position in shares of Tower Semiconductor by 72.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,070 shares of the semiconductor company’s stock worth $83,000 after buying an additional 2,124 shares during the last quarter. RBF Capital LLC bought a new stake in shares of Tower Semiconductor during the 4th quarter worth $198,000. Bank Hapoalim BM bought a new stake in shares of Tower Semiconductor during the 1st quarter worth $234,000. AlphaCrest Capital Management LLC bought a new stake in shares of Tower Semiconductor during the 1st quarter worth $291,000. Finally, SG Americas Securities LLC lifted its position in shares of Tower Semiconductor by 85.5% during the 1st quarter. SG Americas Securities LLC now owns 19,877 shares of the semiconductor company’s stock worth $329,000 after buying an additional 9,160 shares during the last quarter. Institutional investors and hedge funds own 52.14% of the company’s stock.

Shares of TSEM stock traded down $0.24 on Friday, hitting $16.40. 632,662 shares of the company’s stock were exchanged, compared to its average volume of 246,586. 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 company has a market capitalization of $1.64 billion, a PE ratio of 10.86, a P/E/G ratio of 1.89 and a beta of 1.26. The stock’s 50 day moving average is $15.75.

Tower Semiconductor Company Profile

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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