Tower Semiconductor Ltd. (NASDAQ:TSEM) – Investment analysts at Zacks Investment Research cut their Q4 2017 earnings per share (EPS) estimates for shares of Tower Semiconductor in a research note issued on Monday. Zacks Investment Research analyst L. Thompson now anticipates that the semiconductor company will post earnings of $0.50 per share for the quarter, down from their previous estimate of $0.52. Zacks Investment Research also issued estimates for Tower Semiconductor’s FY2018 earnings at $2.07 EPS.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The business had revenue of $345.10 million during the quarter, compared to analyst estimates of $344.98 million. During the same period in the previous year, the firm earned $0.45 EPS. Tower Semiconductor’s quarterly revenue was up 13.1% compared to the same quarter last year.

ILLEGAL ACTIVITY WARNING: This article was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.watchlistnews.com/zacks-investment-research-comments-on-tower-semiconductor-ltd-s-q4-2017-earnings-tsem/1468334.html.

TSEM has been the subject of a number of other research reports. BidaskClub raised Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. TheStreet cut Tower Semiconductor from a “b-” rating to a “c” rating in a research note on Monday, April 17th. ValuEngine raised Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Tower Semiconductor in a research note on Tuesday, May 9th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.50.

Tower Semiconductor (NASDAQ TSEM) traded down 3.35% during trading on Thursday, reaching $25.11. The company’s stock had a trading volume of 210,680 shares. Tower Semiconductor has a 12 month low of $14.77 and a 12 month high of $27.60. The stock has a market cap of $2.42 billion, a PE ratio of 12.86 and a beta of 1.00. The company’s 50-day moving average is $25.41 and its 200-day moving average is $23.61.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. boosted its position in shares of Tower Semiconductor by 12.7% in the first quarter. Sei Investments Co. now owns 10,593 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 1,190 shares during the last quarter. Dupont Capital Management Corp boosted its position in shares of Tower Semiconductor by 24.4% in the second quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 1,219 shares during the last quarter. Renaissance Group LLC boosted its position in shares of Tower Semiconductor by 8.9% in the second quarter. Renaissance Group LLC now owns 19,195 shares of the semiconductor company’s stock valued at $458,000 after buying an additional 1,576 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Tower Semiconductor by 3.3% in the second quarter. Engineers Gate Manager LP now owns 53,206 shares of the semiconductor company’s stock valued at $1,269,000 after buying an additional 1,706 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Tower Semiconductor by 6.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,053 shares of the semiconductor company’s stock valued at $1,027,000 after buying an additional 2,456 shares during the last quarter. 49.24% of the stock is currently owned by institutional investors.

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.

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

Receive News & Ratings for Tower Semiconductor Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.