Tower Semiconductor (NASDAQ:TSEM) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $48.64 on Monday. Tower Semiconductor has a 52 week low of $28.37 and a 52 week high of $55.31. 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 business has a 50 day moving average price of $50.76 and a 200-day moving average price of $45.69. The company has a market cap of $5.39 billion, a PE ratio of 26.29 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TSEM shares. Craig Hallum increased their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wedbush restated an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Monday, February 3rd. Susquehanna upped their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research note on Thursday, November 14th. Finally, StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor has a consensus rating of “Moderate Buy” and an average target price 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.