Tower Semiconductor (TSEM) Set to Announce Earnings on Thursday

Tower Semiconductor (NASDAQ:TSEM) is scheduled to announce 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 participating in the company’s conference call can do so using this link.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $351.71 million during the quarter, compared to analyst estimates of $350.00 million. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. 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 Trading Up 2.5 %

TSEM opened at $34.67 on Wednesday. Tower Semiconductor has a 12 month low of $21.43 and a 12 month high of $43.31. The stock has a fifty day moving average price of $32.59 and a 200-day moving average price of $30.01. The company has a current ratio of 6.17, a quick ratio of 5.15 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 7.46 and a beta of 0.93.

Wall Street Analysts Forecast Growth

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

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.