Needham issues “Strong Buy” Rating on Tower Semiconductor Ltd. (USA) (TSEM)

Tower Semiconductor Ltd. (USA) (TSEM) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 30 from a previous price target of $25 . Needham advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, Tower Semiconductor Ltd. (USA) reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 13, 2017. Analyst had a consensus of $0.48. The company had revenue of $340.40 million for the quarter, compared to analysts expectations of $339.93 million. The company’s revenue was up 4.4% compared to the same quarter last year.

Tower Semiconductor Ltd. (USA) opened for trading at $22.13 and hit $22.25 on the upside on Friday, eventually ending the session at $22.07, with a gain of 0.14% or 0.03 points. The heightened volatility saw the trading volume jump to 9,53,315 shares. Company has a market cap of $1,906 M.

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. It manufactures semiconductors for its customers primarily based on third-party designs. It offers the process manufacture geometries of 0.35 0.50 0.55 0.60 0.80-micron and above on 150 millimeter wafers and 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 complementary technical services. Its ICs are incorporated into a range of products in markets including consumer electronics personal computers communications automotive industrial and medical device products.

Tower Semiconductor Ltd. (USA)

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