What is Wedbush’s Estimate for TSEM FY2024 Earnings?

Tower Semiconductor Ltd. (NASDAQ:TSEM) – Analysts at Wedbush issued their FY2024 EPS estimates for Tower Semiconductor in a research report issued on Monday, February 3rd. Wedbush analyst M. Bryson anticipates that the semiconductor company will post earnings of $1.85 per share for the year. Wedbush has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for Tower Semiconductor’s current full-year earnings is $1.77 per share. Wedbush also issued estimates for Tower Semiconductor’s Q4 2024 earnings at $0.51 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.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share.

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

Tower Semiconductor Trading Up 1.0 %

Shares of NASDAQ:TSEM opened at $50.22 on Wednesday. The company has a 50-day simple moving average of $50.62 and a 200 day simple moving average of $45.55. The company has a market capitalization of $5.57 billion, a P/E ratio of 27.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. Tower Semiconductor has a 52-week low of $28.11 and a 52-week high of $55.31.

Institutional Investors Weigh In On Tower Semiconductor

A number of institutional investors have recently modified their holdings of TSEM. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor during the third quarter valued at $27,000. USA Financial Formulas acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $38,000. R Squared Ltd bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at about $61,000. Blue Trust Inc. grew its stake in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the period. Finally, Signaturefd LLC increased its holdings in Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

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.