Tower Semiconductor’s (TSEM) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a report issued on Monday, MarketBeat Ratings reports. Wedbush currently has a $60.00 price target on the semiconductor company’s stock. Wedbush also issued estimates for Tower Semiconductor’s Q4 2024 earnings at $0.51 EPS, FY2024 earnings at $1.85 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.

A number of other brokerages have also issued reports on TSEM. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. Susquehanna raised their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Craig Hallum raised their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor has an average rating of “Moderate Buy” and a consensus target price of $58.75.

Tower Semiconductor Trading Up 1.0 %

TSEM opened at $50.22 on Monday. The company’s 50 day moving average is $50.62 and its 200-day moving average is $45.55. Tower Semiconductor has a 1-year low of $28.11 and a 1-year high of $55.31. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.57 billion, a P/E ratio of 27.15 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS. Equities research analysts predict that Tower Semiconductor will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its holdings in Tower Semiconductor by 94.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 19,900 shares of the semiconductor company’s stock worth $1,025,000 after purchasing an additional 9,650 shares during the last quarter. Truist Financial Corp increased its stake in shares of Tower Semiconductor by 34.6% in the 4th quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company’s stock valued at $893,000 after acquiring an additional 4,455 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Tower Semiconductor by 292.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company’s stock valued at $1,506,000 after acquiring an additional 21,773 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 230 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at $663,000. Institutional investors own 70.51% of the company’s stock.

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.