Tower Semiconductor (TSEM) Set to Announce Quarterly Earnings on Thursday

Tower Semiconductor (NASDAQ:TSEM) is scheduled to issue its quarterly earnings data 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.Parties that are interested in participating in the company’s conference call can do so using this link.

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

Shares of Tower Semiconductor stock opened at $34.67 on Wednesday. The firm has a market capitalization of $3.79 billion, a PE ratio of 7.46 and a beta of 0.93. 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’s 50 day moving average is $32.59 and its 200 day moving average is $30.01. Tower Semiconductor has a 1 year low of $21.43 and a 1 year high of $43.31.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Susquehanna initiated coverage on shares of Tower Semiconductor in a research report on Thursday, February 29th. They issued a “neutral” rating and a $36.00 price target on the stock. Finally, TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.