Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a downside of -1.32% to $29.95 after subtracting -$0.4on Wednesday. The 5-day average trading volume is 1,763,748 shares of the company’s common stock. It has gained $31.15 in the past week and touched a new high 2 times within the past 5 days. An average of 1,751,277 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,290,015.
TSEM’s 1-month performance is -13.89% or -$6.41 on its low of $29.40 reached on 08/23/23. The company’s shares have touched a 52-week low of $29.80 and high of $46.88, with the stock’s rally to the 52-week high happening on 04/27/23. YTD, TSEM has lost -30.67% or -$13.26 and has reached a new high 9 times. However, the current price is down -36.11% from the 52-week high price.
Valuation Metrics
TSEM stock has a beta of 0.91. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.13 while the price-to-book (PB) in the most recent quarter is 1.64.
Tower Semiconductor Ltd.’s quick ratio for the period ended June 29 was 3.70, with the current ratio over the same period at 4.80. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.09, while the total debt to equity was 0.11. In terms of profitability, the gross margin trailing 12 months is 28.00%. The trailing 12-month EBITDA margin is 35.45% while for the period ending June 29, Tower Semiconductor Ltd.’s operating margin was 20.60%. The firm’s gross profit as reported stood at $466.31 million against revenue of $1.68 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 43.3% to $264.57 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected TSEM to announce $0.49 per share in earnings in its latest quarter, but it posted $0.45, representing a -8.20% surprise. EBITDA for the quarter stood at more than $114.11 million. TSEM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 522.97 million, with total debt at $220.16 million.
Let’s look briefly at Tower Semiconductor Ltd. (TSEM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 19.79% to suggest the stock is trending oversold, with historical volatility in this time period at 49.35%.
The stock’s 5-day moving average is $30.47, reflecting a -0.76% or -$0.23 change from its current price. TSEM is currently trading -18.51% above its 20-day SMA, -29.32% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -24.34% and SMA200 by-25.61%.
Stochastic %K and %D was 9.44% and 10.27% and the average true range (ATR) pointed at 1.20. The RSI (14) points at 24.52%, while the 14-day stochastic is at 6.68% with the period’s ATR at 1.20. The stock’s 9-day MACD Oscillator is pointing at -1.21 and -2.73 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Tower Semiconductor Ltd. (NASDAQ: TSEM), Craig Hallum upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for TSEM stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate TSEM as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is TSEM’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $31.00 and a high of $38.00, with their median price target at $34.50. Looking at these predictions, the average price target given by analysts is for Tower Semiconductor Ltd. (TSEM) stock is $34.50.
