Tower Semiconductor (NASDAQ:TSEM) Releases Earnings Results, Beats Estimates By $0.03 EPS

Tower Semiconductor (NASDAQ:TSEM) issued its quarterly earnings results on Monday. The semiconductor company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03, Zacks reports. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%.

Tower Semiconductor Stock Down 2.2 %

Shares of NASDAQ TSEM opened at $48.64 on Monday. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.39 billion, a P/E ratio of 26.29 and a beta of 0.88. Tower Semiconductor has a 52 week low of $28.37 and a 52 week high of $55.31. The business has a 50-day simple moving average of $50.76 and a two-hundred day simple moving average of $45.69.

Analyst Ratings Changes

A number of research firms have issued reports on TSEM. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Monday, February 3rd. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Craig Hallum boosted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating 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 stock a “positive” rating in a research report on Thursday, November 14th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.75.

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.