FY2024 Earnings Estimate for TSEM Issued By Wedbush

Tower Semiconductor Ltd. (NASDAQ:TSEM) – Stock analysts at Wedbush issued their FY2024 EPS estimates for shares of Tower Semiconductor in a research report issued on Monday, February 3rd. Wedbush analyst M. Bryson expects that the semiconductor company will post earnings per share of $1.85 for the year. Wedbush has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for Tower Semiconductor’s current full-year earnings is $1.77 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) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year.

Several other equities research analysts also recently commented on TSEM. Craig Hallum upped their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna lifted their price objective 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, Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.75.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $49.74 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The company has a market capitalization of $5.51 billion, a P/E ratio of 26.89 and a beta of 0.88. Tower Semiconductor has a 1 year low of $28.11 and a 1 year high of $55.31. The business has a fifty day simple moving average of $50.59 and a two-hundred day simple moving average of $45.48.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor during the third quarter valued at approximately $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the 3rd quarter worth $38,000. R Squared Ltd purchased a new position in shares of Tower Semiconductor in the 4th quarter worth about $61,000. Blue Trust Inc. increased its position in shares of 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 last quarter. Finally, Signaturefd LLC raised its holdings in shares of 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 buying an additional 431 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Company Profile

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.