Tower Semiconductor Expected to Post FY2018 Earnings of $1.91 Per Share (NASDAQ:TSEM)

Tower Semiconductor (NASDAQ:TSEM) – Equities researchers at Zacks Investment Research cut their FY2018 earnings estimates for shares of Tower Semiconductor in a research note issued to investors on Tuesday, May 8th, according to Zacks Investment Research. Zacks Investment Research analyst L. Thompson now anticipates that the semiconductor company will post earnings per share of $1.91 for the year, down from their prior estimate of $2.17. Zacks Investment Research also issued estimates for Tower Semiconductor’s FY2019 earnings at $2.28 EPS.

TSEM has been the subject of a number of other reports. Drexel Hamilton reissued a “buy” rating and issued a $46.00 price objective on shares of Tower Semiconductor in a research note on Thursday, February 22nd. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine cut shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 7th. Finally, Needham & Company LLC cut shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating and reduced their price objective for the stock from $50.00 to $32.00 in a research note on Tuesday, May 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $39.25.



Shares of Tower Semiconductor traded down $0.06, reaching $24.82, during midday trading on Friday, according to MarketBeat Ratings. The stock had a trading volume of 14,806 shares, compared to its average volume of 795,113. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.91 and a quick ratio of 2.43. The stock has a market cap of $2.45 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. Tower Semiconductor has a 12-month low of $24.73 and a 12-month high of $24.95.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Monday, May 7th. The semiconductor company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). The business had revenue of $312.70 million for the quarter, compared to analysts’ expectations of $325.03 million. Tower Semiconductor had a net margin of 20.34% and a return on equity of 21.96%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share.

Several large investors have recently modified their holdings of TSEM. Neuberger Berman Group LLC boosted its position in shares of Tower Semiconductor by 95.1% during the first quarter. Neuberger Berman Group LLC now owns 2,341,486 shares of the semiconductor company’s stock worth $62,894,000 after acquiring an additional 1,141,510 shares during the last quarter. Meitav Dash Investments Ltd. bought a new position in shares of Tower Semiconductor during the fourth quarter worth $24,173,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Tower Semiconductor during the fourth quarter worth $22,891,000. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Tower Semiconductor by 42.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,296,520 shares of the semiconductor company’s stock worth $34,889,000 after acquiring an additional 385,000 shares during the last quarter. Finally, FIL Ltd boosted its position in shares of Tower Semiconductor by 24.3% during the first quarter. FIL Ltd now owns 1,562,000 shares of the semiconductor company’s stock worth $42,033,000 after acquiring an additional 305,000 shares during the last quarter. Hedge funds and other institutional investors own 47.46% of the company’s stock.

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. The company 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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