The stock of Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) hit a new 52-week high and has $20.20 target or 9.00% above today’s $18.53 share price. The 8 months bullish chart indicates low risk for the $1.61B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $20.20 price target is reached, the company will be worth $144.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 353,370 shares traded hands. Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) has risen 51.32% since April 21, 2016 and is uptrending. It has outperformed by 45.99% the S&P500.
Analysts await Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) to report earnings on February, 22. They expect $0.46 EPS, down 44.58% or $0.37 from last year’s $0.83 per share. TSEM’s profit will be $39.97 million for 10.07 P/E if the $0.46 EPS becomes a reality. After $0.50 actual EPS reported by Tower Semiconductor Ltd. (USA) for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.
Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) Ratings Coverage
Out of 4 analysts covering TowerJazz (NASDAQ:TSEM), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. TowerJazz has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) earned “Buy” rating by Chardan Capital Markets on Thursday, August 6. The company was initiated on Tuesday, October 20 by Drexel Hamilton. The rating was initiated by Needham with “Strong Buy” on Friday, January 22. Oppenheimer initiated the shares of TSEM in a report on Tuesday, December 15 with “Outperform” rating.
According to Zacks Investment Research, “Tower Semiconductor Ltd. is an independent manufacturer and service provider of semiconductor integrated circuits on silicon wafers. They provide IC design, manufacturing and turnkey services using advanced production capabilities and the proprietary IC designs of their customers, and are specializing in providing solutions for embedded non-volatile memory devices and CMOS image sensors. (press release)”
More news for Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) were recently published by: Benzinga.com, which released: “Earnings Scheduled For November 15, 2016” on November 15, 2016. Globenewswire.com‘s article titled: “TowerJazz Completes Acquisition of Maxim’s Fabrication Facility in San Antonio …” and published on February 02, 2016 is yet another important article.
TSEM Company Profile
Tower Semiconductor Ltd., incorporated on February 22, 1993, operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Firm focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Firm makes semiconductors for its clients primarily based on third-party designs. It offers process manufacture geometries of 0.35, 0.50, 0.55, 0.60, 0.80-micron and above on 150 millimeter wafers, 0.35, 0.18. 0.16, 0.13 and 0.11-micron on 200 millimeter wafers, and 65 nanometer and 45 nanometer on 300 millimeter wafers. It also provides design support and technical services. The Company’s ICs are incorporated into a range of products in markets, including consumer electronics, personal computers, communications, automotive, industrial and medical device products. The Firm has manufacturing facilities in the United States, Israel and Japan.
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