Equities Analysts Set Expectations for Tower Semiconductor Ltd.’s FY2021 Earnings (NASDAQ:TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEM) – Investment analysts at Jefferies Financial Group issued their FY2021 earnings estimates for shares of Tower Semiconductor in a report released on Tuesday, February 18th. Jefferies Financial Group analyst M. Lipacis anticipates that the semiconductor company will earn $1.63 per share for the year.

TSEM has been the topic of a number of other reports. BidaskClub downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Saturday, February 1st. Craig Hallum reissued a “buy” rating and set a $32.00 target price (up from $24.00) on shares of Tower Semiconductor in a research report on Thursday, November 14th. They noted that the move was a valuation call. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Tower Semiconductor in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Tower Semiconductor presently has a consensus rating of “Hold” and an average price target of $26.57.

NASDAQ TSEM opened at $22.08 on Friday. Tower Semiconductor has a fifty-two week low of $14.46 and a fifty-two week high of $25.80. The stock’s 50-day moving average is $24.08 and its two-hundred day moving average is $21.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.50 and a quick ratio of 3.70. The firm has a market cap of $2.19 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 1.88 and a beta of 1.32.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Tuesday, February 18th. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Tower Semiconductor had a return on equity of 7.79% and a net margin of 7.30%. The company had revenue of $306.00 million during the quarter, compared to analyst estimates of $312.06 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis.

A number of large investors have recently modified their holdings of TSEM. Envestnet Asset Management Inc. raised its holdings in Tower Semiconductor by 5.2% during the third quarter. Envestnet Asset Management Inc. now owns 11,460 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 562 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tower Semiconductor by 129.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,153 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 1,215 shares during the last quarter. KCS Wealth Advisory bought a new position in shares of Tower Semiconductor during the third quarter valued at $31,000. Geode Capital Management LLC raised its stake in shares of Tower Semiconductor by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 79,666 shares of the semiconductor company’s stock valued at $1,916,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Tower Semiconductor during the fourth quarter valued at $57,000. 54.75% of the stock is currently owned by hedge funds and other institutional investors.

About Tower Semiconductor

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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