Today’s Price Action: What’s Next for Tower Semiconductor Ltd. (USA) After Today’s Huge Increase?

Today's Price Action: What's Next for Tower Semiconductor Ltd. (USA) After Today's Huge Increase?

The stock of Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) is a huge mover today! About 618,701 shares traded hands. Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) has risen 18.75% since March 3, 2016 and is uptrending. It has outperformed by 10.41% the S&P500.
The move comes after 8 months positive chart setup for the $1.38B company. It was reported on Oct, 6 by Barchart.com. We have $24.77 PT which if reached, will make NASDAQ:TSEM worth $759.00M more.

Analysts await Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) to report earnings on November, 9. They expect $0.40 EPS, down 35.48% or $0.22 from last year’s $0.62 per share. TSEM’s profit will be $34.52M for 9.99 P/E if the $0.40 EPS becomes a reality. After $0.39 actual EPS reported by Tower Semiconductor Ltd. (USA) for the previous quarter, Wall Street now forecasts 2.56% 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 company was maintained on Thursday, August 6 by Chardan Capital Markets. Needham initiated Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) rating on Friday, January 22. Needham has “Strong Buy” rating and $18 price target. The stock of Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) has “Outperform” rating given on Tuesday, December 15 by Oppenheimer. The firm has “Buy” rating given on Tuesday, October 20 by Drexel Hamilton.

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 notable recent Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) news were published by: Benzinga.com which released: “Oppenheimer: Tower Semiconductor Has Legs, Multiples Set To Expand” on December 15, 2015, also Bidnessetc.com with their article: “Pre-Market Movers: Fitbit Inc (FIT), Tower Semiconductor Ltd. (USA) (TSEM …” published on September 08, 2015, Globenewswire.com published: “TowerJazz to Showcase its Industry Leading RF SOI Technology and Advanced …” on April 11, 2016. More interesting news about Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) were released by: Globenewswire.com and their article: “TowerJazz Completes Acquisition of Maxim’s Fabrication Facility in San Antonio …” published on February 02, 2016 as well as Benzinga.com‘s news article titled: “20 Stocks Moving In Thursday’s Pre-Market Session” with publication date: August 04, 2016.

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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