Tower Semiconductor Ltd. (NASDAQ:TSEM) – Analysts at Craig Hallum boosted their Q1 2017 EPS estimates for shares of Tower Semiconductor in a research report issued on Wednesday. Craig Hallum analyst R. Shannon now forecasts that the firm will earn $0.41 per share for the quarter, up from their prior estimate of $0.39. Craig Hallum also issued estimates for Tower Semiconductor’s Q2 2017 earnings at $0.51 EPS, Q3 2017 earnings at $0.57 EPS, Q4 2017 earnings at $0.58 EPS and FY2017 earnings at $2.07 EPS.

A number of other research analysts also recently weighed in on TSEM. Drexel Hamilton restated a “positive” rating and set a $28.00 price objective on shares of Tower Semiconductor in a research report on Friday, August 5th. Needham & Company LLC restated a “strong-buy” rating and set a $20.00 price objective (up previously from $18.00) on shares of Tower Semiconductor in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $24.25.

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

Shares of Tower Semiconductor (NASDAQ:TSEM) opened at 18.16 on Thursday. The stock’s 50 day moving average is $15.93 and its 200-day moving average is $14.12. Tower Semiconductor has a 12-month low of $10.36 and a 12-month high of $18.45.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Tuesday, November 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. Tower Semiconductor had a net margin of 15.27% and a return on equity of 35.29%. The company earned $326.20 million during the quarter. The firm’s quarterly revenue was up 33.6% on a year-over-year basis.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in Tower Semiconductor by 369.3% in the second quarter. Acadian Asset Management LLC now owns 43,902 shares of the company’s stock valued at $546,000 after buying an additional 34,547 shares during the last quarter. RS Investment Management Co. LLC boosted its stake in shares of Tower Semiconductor by 1.1% in the second quarter. RS Investment Management Co. LLC now owns 5,724,941 shares of the company’s stock worth $71,104,000 after buying an additional 64,264 shares during the period. Societe Generale purchased a new stake in shares of Tower Semiconductor during the second quarter worth about $164,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Tower Semiconductor during the second quarter worth about $3,299,000. Finally, Swiss National Bank boosted its stake in shares of Tower Semiconductor by 21.8% in the second quarter. Swiss National Bank now owns 137,851 shares of the company’s stock worth $1,650,000 after buying an additional 24,640 shares during the period. Institutional investors and hedge funds own 41.88% of the company’s stock.

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. It manufactures semiconductors for its customers primarily based on third-party designs.

5 Day Chart for NASDAQ:TSEM

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