Tower Semiconductor (TSEM) Scheduled to Post Quarterly Earnings on Thursday

Tower Semiconductor (NASDAQ:TSEM) is scheduled to be announcing its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Tower Semiconductor has set its Q1 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The business had revenue of $351.71 million during the quarter, compared to analysts’ expectations of $350.00 million. On average, analysts expect Tower Semiconductor to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $33.81 on Tuesday. The firm has a 50 day simple moving average of $32.56 and a 200-day simple moving average of $29.92. Tower Semiconductor has a 1-year low of $21.43 and a 1-year high of $43.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.17 and a quick ratio of 5.15. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 7.27 and a beta of 0.93.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna assumed coverage on shares of Tower Semiconductor in a research note on Thursday, February 29th. They issued a “neutral” rating and a $36.00 price target for the company. StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Finally, TheStreet raised shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

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.