Tower Semiconductor (NASDAQ:TSEM) issued its earnings results on Wednesday. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01, Briefing.com reports. Tower Semiconductor had a net margin of 9.34% and a return on equity of 11.19%. The firm had revenue of $312.10 million for the quarter, compared to analysts’ expectations of $312.05 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis.
Tower Semiconductor stock traded down $0.67 on Thursday, hitting $22.56. 38,110 shares of the stock traded hands, compared to its average volume of 440,805. The company has a current ratio of 4.82, a quick ratio of 3.99 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.24 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 2.56 and a beta of 1.27. The business’s fifty day simple moving average is $21.31 and its 200 day simple moving average is $18.49. Tower Semiconductor has a 1 year low of $13.56 and a 1 year high of $24.26.
TSEM has been the subject of a number of research analyst reports. BidaskClub raised Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. ValuEngine lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. TheStreet lowered Tower Semiconductor from a “b-” rating to a “c” rating in a research note on Monday, July 29th. Craig Hallum reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $24.00) on shares of Tower Semiconductor in a research note on Thursday. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Tower Semiconductor in a research note on Wednesday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.57.
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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