Zacks Small Cap Comments on Tower Semiconductor Ltd.’s Q3 2022 Earnings (NASDAQ:TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEMGet Rating) – Research analysts at Zacks Small Cap lifted their Q3 2022 EPS estimates for shares of Tower Semiconductor in a report issued on Tuesday, August 2nd. Zacks Small Cap analyst L. Thompson now forecasts that the semiconductor company will earn $0.55 per share for the quarter, up from their prior estimate of $0.52. The consensus estimate for Tower Semiconductor’s current full-year earnings is $2.07 per share. Zacks Small Cap also issued estimates for Tower Semiconductor’s Q4 2022 earnings at $0.55 EPS and FY2022 earnings at $2.12 EPS.

Separately, StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Friday, May 27th.

Tower Semiconductor Stock Down 0.2 %

Shares of NASDAQ:TSEM opened at $47.37 on Friday. The company has a quick ratio of 3.11, a current ratio of 3.81 and a debt-to-equity ratio of 0.12. Tower Semiconductor has a 52-week low of $26.59 and a 52-week high of $49.13. The company has a 50 day moving average of $46.77 and a two-hundred day moving average of $45.66. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 25.61 and a beta of 1.03.

Tower Semiconductor (NASDAQ:TSEMGet Rating) last posted its earnings results on Monday, May 16th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $421.13 million during the quarter, compared to the consensus estimate of $412.45 million. Tower Semiconductor had a net margin of 12.33% and a return on equity of 12.57%.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Total Clarity Wealth Management Inc. purchased a new position in shares of Tower Semiconductor during the 2nd quarter valued at approximately $37,000. Catalyst Capital Advisors LLC purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at approximately $32,000. Signaturefd LLC boosted its stake in shares of Tower Semiconductor by 416.7% during the 1st quarter. Signaturefd LLC now owns 930 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 750 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Tower Semiconductor during the 2nd quarter valued at approximately $45,000. Finally, Citizens National Bank Trust Department purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at approximately $48,000.

About Tower Semiconductor

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Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, other Asia countries, 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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