Tower Semiconductor Ltd reports results for the quarter ended June 30 - Earnings Summary

• Tower Semiconductor Ltd TSEM reported quarterly adjusted earnings of 50 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 53 cents. The mean expectation of five analysts for the quarter was for earnings of 45 cents per share. Wall Street expected results to range from 44 cents to 47 cents per share.

• Revenue rose 5.9% to $372.06 million from a year ago; analysts expected $371.63 million.

• Tower Semiconductor Ltd's reported EPS for the quarter was 41 cents​.

• The company reported quarterly net income of $46.55 million.

• Tower Semiconductor Ltd shares had risen by 3.0% this quarter and lost 13.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 4.6% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Tower Semiconductor Ltd is $60.00, about 25.5% above its last closing price of $44.67

This summary was machine generated from LSEG data August 4 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)