$302.44 Million in Sales Expected for Tower Semiconductor Ltd. (NASDAQ:TSEM) This Quarter

Brokerages expect Tower Semiconductor Ltd. (NASDAQ:TSEM) to report $302.44 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tower Semiconductor’s earnings, with estimates ranging from $299.88 million to $305.00 million. Tower Semiconductor posted sales of $335.14 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.8%. The business is expected to announce its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Tower Semiconductor will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.22 billion to $1.26 billion. For the next year, analysts forecast that the firm will report sales of $1.33 billion, with estimates ranging from $1.32 billion to $1.35 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Tower Semiconductor.

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

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of Tower Semiconductor in a research note on Thursday, March 28th. Credit Suisse Group downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $17.71 target price on the stock. in a research note on Wednesday, April 24th. BidaskClub upgraded Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Thursday, May 2nd. Finally, ValuEngine upgraded Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Tower Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $23.29.

Shares of TSEM opened at $15.48 on Friday. Tower Semiconductor has a 52 week low of $13.56 and a 52 week high of $23.55. The company has a current ratio of 4.51, a quick ratio of 3.73 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.53 billion, a PE ratio of 10.25, a P/E/G ratio of 1.76 and a beta of 1.27.

A number of hedge funds have recently modified their holdings of TSEM. SG Americas Securities LLC purchased a new position in Tower Semiconductor during the fourth quarter worth approximately $158,000. Boston Partners purchased a new position in Tower Semiconductor during the fourth quarter worth approximately $1,036,000. LPL Financial LLC boosted its position in Tower Semiconductor by 20.0% during the fourth quarter. LPL Financial LLC now owns 31,758 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 5,302 shares in the last quarter. Acadian Asset Management LLC boosted its position in Tower Semiconductor by 41,850.7% during the fourth quarter. Acadian Asset Management LLC now owns 148,925 shares of the semiconductor company’s stock worth $2,196,000 after purchasing an additional 148,570 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Tower Semiconductor by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 392,330 shares of the semiconductor company’s stock worth $5,783,000 after purchasing an additional 1,973 shares in the last quarter. Institutional investors own 52.12% 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. 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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