Tower Semiconductor Ltd. (NASDAQ:TSEM) – Equities research analysts at Zacks Investment Research lifted their FY2017 earnings estimates for shares of Tower Semiconductor in a research report issued to clients and investors on Wednesday. Zacks Investment Research analyst L. Thompson now anticipates that the semiconductor company will post earnings per share of $1.95 for the year, up from their prior forecast of $1.87. Zacks Investment Research also issued estimates for Tower Semiconductor’s Q4 2017 earnings at $0.56 EPS and FY2018 earnings at $2.36 EPS.
Several other analysts also recently commented on the stock. BidaskClub raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Credit Suisse Group initiated coverage on shares of Tower Semiconductor in a report on Tuesday, September 26th. They set an “outperform” rating and a $36.00 target price for the company. Craig Hallum reaffirmed a “buy” rating and set a $39.00 target price (up previously from $32.00) on shares of Tower Semiconductor in a report on Wednesday, November 8th. Finally, Drexel Hamilton lifted their target price on shares of Tower Semiconductor from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.00.
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Shares of Tower Semiconductor (TSEM) opened at $33.88 on Monday. The company has a market cap of $3,289.60, a PE ratio of 15.66, a P/E/G ratio of 1.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44. Tower Semiconductor has a twelve month low of $16.12 and a twelve month high of $34.20.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. bought a new stake in Tower Semiconductor in the 3rd quarter valued at about $120,000. Dupont Capital Management Corp boosted its holdings in Tower Semiconductor by 24.4% in the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 1,219 shares during the period. SG Americas Securities LLC bought a new stake in Tower Semiconductor in the 3rd quarter valued at about $207,000. Parametric Portfolio Associates LLC bought a new stake in Tower Semiconductor in the 1st quarter valued at about $217,000. Finally, Spectrum Asset Management Inc. NB CA bought a new stake in Tower Semiconductor in the 3rd quarter valued at about $290,000. 45.32% of the stock is owned by hedge funds and other institutional investors.
Tower Semiconductor Company Profile
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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