Brokers Issue Forecasts for TSEM FY2024 Earnings

Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) - Investment analysts at Wedbush issued their FY2024 EPS estimates for Tower Semiconductor in a report released on Monday, February 3rd. Wedbush analyst M. Bryson expects that the semiconductor company will earn $1.85 per share for the year. Wedbush currently has a "Outperform" rating and a $60.00 price target on the stock. The consensus estimate for Tower Semiconductor's current full-year earnings is $1.81 per share. Wedbush also issued estimates for Tower Semiconductor's Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.18 EPS, Q1 2026 earnings at $0.57 EPS, Q2 2026 earnings at $0.63 EPS, Q3 2026 earnings at $0.67 EPS, Q4 2026 earnings at $0.67 EPS and FY2026 earnings at $2.55 EPS.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same quarter last year, the business earned $0.47 earnings per share. Tower Semiconductor's quarterly revenue was up 3.4% compared to the same quarter last year.

Several other equities analysts have also commented on TSEM. StockNews.com lowered shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Benchmark reissued a "buy" rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna increased their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Finally, Craig Hallum increased their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $58.75.

Tower Semiconductor Price Performance

TSEM stock traded down $1.07 during trading on Wednesday, hitting $48.64. 1,104,595 shares of the company's stock traded hands, compared to its average volume of 799,221. Tower Semiconductor has a 52 week low of $28.37 and a 52 week high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The business has a fifty day simple moving average of $50.76 and a 200 day simple moving average of $45.66. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 26.29 and a beta of 0.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new position in Tower Semiconductor in the 3rd quarter worth about $27,000. USA Financial Formulas purchased a new position in Tower Semiconductor in the 3rd quarter worth about $38,000. R Squared Ltd purchased a new position in Tower Semiconductor during the 4th quarter valued at about $61,000. Blue Trust Inc. increased its position in Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 1,376 shares during the period. Finally, Signaturefd LLC increased its position in Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock valued at $109,000 after purchasing an additional 431 shares during the period. Hedge funds and other institutional investors own 70.51% of the company's stock.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.