Brokerages forecast that Tower Semiconductor Ltd. (NASDAQ:TSEM) will report sales of $310.00 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Tower Semiconductor’s earnings. Tower Semiconductor reported sales of $312.71 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The business is scheduled to report its next earnings results on Monday, May 6th.
According to Zacks, analysts expect that Tower Semiconductor will report full year sales of $1.27 billion for the current financial year, with estimates ranging from $1.27 billion to $1.28 billion. For the next year, analysts expect that the business will report sales of $1.38 billion, with estimates ranging from $1.35 billion to $1.41 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Tower Semiconductor.
Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Tuesday, February 19th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Tower Semiconductor had a net margin of 10.40% and a return on equity of 13.59%. The company had revenue of $333.59 million during the quarter, compared to the consensus estimate of $338.08 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Tower Semiconductor during the fourth quarter worth $158,000. RBF Capital LLC acquired a new position in Tower Semiconductor during the fourth quarter worth $198,000. Squarepoint Ops LLC acquired a new position in Tower Semiconductor during the fourth quarter worth $355,000. LPL Financial LLC boosted its holdings in Tower Semiconductor by 20.0% during the fourth quarter. LPL Financial LLC now owns 31,758 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 5,302 shares during the last quarter. Finally, Boston Partners acquired a new position in Tower Semiconductor during the fourth quarter worth $1,036,000. Institutional investors and hedge funds own 52.12% of the company’s stock.
Shares of TSEM stock traded down $0.24 during trading hours on Monday, hitting $17.67. 214,410 shares of the company were exchanged, compared to its average volume of 571,332. The company has a quick ratio of 4.01, a current ratio of 4.85 and a debt-to-equity ratio of 0.21. Tower Semiconductor has a 52 week low of $13.56 and a 52 week high of $29.36. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.37 and a beta of 1.19.
About Tower Semiconductor
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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