$358.25 Million in Sales Expected for Tower Semiconductor Ltd. (TSEM) This Quarter
Equities analysts forecast that Tower Semiconductor Ltd. (NASDAQ:TSEM) will report $358.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tower Semiconductor’s earnings, with the highest sales estimate coming in at $358.50 million and the lowest estimate coming in at $358.00 million. Tower Semiconductor posted sales of $340.38 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The company is scheduled to issue its next earnings results on Monday, February 12th.
According to Zacks, analysts expect that Tower Semiconductor will report full-year sales of $358.25 million for the current year. For the next fiscal year, analysts anticipate that the company will report sales of $1.48 billion per share, with estimates ranging from $1.47 billion to $1.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Tower Semiconductor.
TSEM has been the topic of several recent analyst reports. Drexel Hamilton boosted their target price on shares of Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. BidaskClub downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Credit Suisse Group initiated coverage on shares of Tower Semiconductor in a research note on Tuesday, September 26th. They set an “outperform” rating and a $36.00 target price on the stock. Craig Hallum reissued a “buy” rating and set a $39.00 target price (up from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. Finally, Needham & Company LLC boosted their target price on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.75.
Tower Semiconductor (NASDAQ TSEM) traded up $0.06 during midday trading on Monday, hitting $34.13. The company’s stock had a trading volume of 177,883 shares, compared to its average volume of 680,600. The company has a market capitalization of $3,200.00, a PE ratio of 18.75, a P/E/G ratio of 1.12 and a beta of 0.97. Tower Semiconductor has a 52 week low of $18.98 and a 52 week high of $36.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85.
TRADEMARK VIOLATION NOTICE: “$358.25 Million in Sales Expected for Tower Semiconductor Ltd. (TSEM) This Quarter” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.thecerbatgem.com/2017/12/26/358-25-million-in-sales-expected-for-tower-semiconductor-ltd-tsem-this-quarter.html.
Tower Semiconductor Company Profile
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. The Company manufactures semiconductors for its customers primarily based on third-party designs.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related stocks with our FREE daily email newsletter.