Wall Street analysts predict that Tower Semiconductor Ltd. (NASDAQ:TSEM) will report earnings of $0.30 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Tower Semiconductor’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.31. Tower Semiconductor posted earnings per share of $0.31 in the same quarter last year, which would indicate a negative year over year growth rate of 3.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, May 6th.

On average, analysts expect that Tower Semiconductor will report full year earnings of $1.28 per share for the current year, with EPS estimates ranging from $1.25 to $1.31. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.92 per share. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Tower Semiconductor.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Tuesday, February 19th. The semiconductor company reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $333.59 million for the quarter, compared to the consensus estimate of $338.08 million. Tower Semiconductor had a net margin of 10.40% and a return on equity of 13.59%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share.

Several research firms have commented on TSEM. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of Tower Semiconductor in a report on Thursday, March 28th. Finally, ValuEngine raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $25.08.

NASDAQ TSEM traded down $0.24 during trading on Friday, hitting $17.67. 214,410 shares of the company’s stock traded hands, compared to its average volume of 571,332. The company has a market cap of $1.74 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.19. Tower Semiconductor has a 12-month low of $13.56 and a 12-month high of $29.36. The company has a quick ratio of 4.01, a current ratio of 4.85 and a debt-to-equity ratio of 0.21.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Taylor Frigon Capital Management LLC increased its position in shares of Tower Semiconductor by 1.2% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 139,764 shares of the semiconductor company’s stock worth $2,060,000 after purchasing an additional 1,650 shares during the last quarter. Renaissance Technologies LLC grew its position in Tower Semiconductor by 58.3% in the 3rd quarter. Renaissance Technologies LLC now owns 488,900 shares of the semiconductor company’s stock valued at $10,638,000 after acquiring an additional 180,000 shares during the last quarter. Macquarie Group Ltd. grew its position in Tower Semiconductor by 0.6% in the 3rd quarter. Macquarie Group Ltd. now owns 2,261,135 shares of the semiconductor company’s stock valued at $49,202,000 after acquiring an additional 12,710 shares during the last quarter. Ibex Investors LLC bought a new position in Tower Semiconductor in the 4th quarter valued at $11,011,000. Finally, Acadian Asset Management LLC grew its position in Tower Semiconductor by 41,850.7% in the 4th quarter. Acadian Asset Management LLC now owns 148,925 shares of the semiconductor company’s stock valued at $2,196,000 after acquiring an additional 148,570 shares during the last quarter. Hedge funds and other institutional investors own 52.12% of the company’s stock.

About Tower Semiconductor

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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