Tower Semiconductor Ltd. (NASDAQ:TSEM) will issue its quarterly earnings data before the market opens on Tuesday, November 7th. Analysts expect the company to announce earnings of $0.53 per share for the quarter.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $345.10 million for the quarter, compared to analysts’ expectations of $344.98 million. Tower Semiconductor had a net margin of 14.53% and a return on equity of 28.28%. Tower Semiconductor’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. On average, analysts expect Tower Semiconductor to post $1.97 EPS for the current fiscal year and $2.19 EPS for the next fiscal year.
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) traded up 1.988% on Tuesday, reaching $33.085. 311,234 shares of the company’s stock were exchanged. The company has a market capitalization of $3.24 billion, a P/E ratio of 16.941 and a beta of 1.00. Tower Semiconductor Ltd. has a 12 month low of $15.22 and a 12 month high of $33.30. The firm’s 50 day moving average price is $30.88 and its 200-day moving average price is $26.59.
Several equities research analysts recently commented on TSEM shares. BidaskClub cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Credit Suisse Group initiated coverage on Tower Semiconductor in a research report on Tuesday, September 26th. They set an “outperform” rating and a $36.00 target price for the company. Finally, ValuEngine raised Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $33.00.
About Tower Semiconductor
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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