Tower Semiconductor Ltd. (NASDAQ:TSEM) – Equities researchers at Zacks Investment Research raised their FY2016 earnings per share estimates for Tower Semiconductor in a report released on Thursday. Zacks Investment Research analyst L. Thompson now forecasts that the brokerage will post earnings per share of $1.64 for the year, up from their prior estimate of $1.53. Zacks Investment Research also issued estimates for Tower Semiconductor’s Q4 2016 earnings at $0.48 EPS.

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

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

Shares of Tower Semiconductor (NASDAQ:TSEM) opened at 18.00 on Monday. The stock has a 50 day moving average of $16.02 and a 200 day moving average of $14.16. Tower Semiconductor has a 1-year low of $10.36 and a 1-year high of $18.45.

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

A number of hedge funds have recently made changes to their positions in the company. RS Investment Management Co. LLC raised its position 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 valued at $71,104,000 after buying an additional 64,264 shares in the last quarter. Swiss National Bank raised its position 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 valued at $1,650,000 after buying an additional 24,640 shares in the last quarter. Societe Generale purchased a new position in shares of Tower Semiconductor during the second quarter valued at approximately $164,000. SG Americas Securities LLC purchased a new position in shares of Tower Semiconductor during the second quarter valued at approximately $164,000. Finally, Principal Financial Group Inc. raised its position in shares of Tower Semiconductor by 7.2% in the second quarter. Principal Financial Group Inc. now owns 410,966 shares of the company’s stock valued at $5,104,000 after buying an additional 27,438 shares in the last quarter. 41.88% of the stock is owned by institutional investors.

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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