Tower Semiconductor (NASDAQ:TSEM) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Tower Semiconductor reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.06.
• The company has seen increased institutional interest, with Amundi raising its stake by 86.8% in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Tower Semiconductor, with an average price target of $60.00.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) issued its quarterly earnings data on Monday. The semiconductor company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06), Zacks reports. Tower Semiconductor had a return on equity of 7.73% and a net margin of 13.86%.

Tower Semiconductor Stock Performance

Shares of NASDAQ:TSEM opened at $44.67 on Monday. The company has a current ratio of 6.93, a quick ratio of 5.82 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 12 month low of $28.64 and a 12 month high of $55.31. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 24.68 and a beta of 0.77. The firm's 50-day moving average is $43.55 and its 200 day moving average is $41.76.

Institutional Investors Weigh In On Tower Semiconductor

A hedge fund recently raised its stake in Tower Semiconductor stock. Amundi raised its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 86.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,617 shares of the semiconductor company's stock after buying an additional 10,042 shares during the period. Amundi's holdings in Tower Semiconductor were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 70.51% of the company's stock.

Analyst Ratings Changes

Separately, Benchmark reissued a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $60.00.

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.

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