Tower Semiconductor (NASDAQ:TSEM) Earns Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report released on Monday, MarketBeat Ratings reports. They currently have a $60.00 price target on the semiconductor company’s stock. Wedbush also issued estimates for Tower Semiconductor’s Q4 2024 earnings at $0.51 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.18 EPS, Q1 2026 earnings at $0.57 EPS, Q2 2026 earnings at $0.63 EPS, Q3 2026 earnings at $0.67 EPS, Q4 2026 earnings at $0.67 EPS and FY2026 earnings at $2.55 EPS.

Several other analysts also recently issued reports on the stock. Susquehanna lifted their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Craig Hallum lifted their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Tower Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $58.75.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $50.22 on Monday. The company has a fifty day simple moving average of $50.62 and a 200 day simple moving average of $45.55. Tower Semiconductor has a 12-month low of $28.11 and a 12-month high of $55.31. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.57 billion, a P/E ratio of 27.15 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same quarter last year, the firm posted $0.47 EPS. Tower Semiconductor’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Tower Semiconductor will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of hedge funds have recently bought and sold shares of TSEM. Sei Investments Co. bought a new stake in shares of Tower Semiconductor during the 2nd quarter worth $1,148,000. Truist Financial Corp raised its stake in shares of Tower Semiconductor by 3.8% during the 2nd quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 273 shares during the period. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the 3rd quarter worth $38,000. Essex Investment Management Co. LLC raised its stake in shares of Tower Semiconductor by 7.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock worth $7,948,000 after purchasing an additional 12,551 shares during the period. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Tower Semiconductor by 79.2% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 42,056 shares of the semiconductor company’s stock worth $1,862,000 after purchasing an additional 18,586 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.