Oppenheimer Maintains an 'Outperform' on Tower Semiconductor (TSEM); A Few Bumps, But A Lot To Like
Tweet Send to a FriendGet Alerts TSEM Hot Sheet
Price: $6.25 -0.79%
Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade TSEM Now!
Oppenheimer maintains an 'Outperform' on Tower Semiconductor (NASDAQ: TSEM) price target of $12.00 (from $1.50).
Analyst, Andrew Uerkwitz, said, "Tower Semiconductor (TowerJazz) recently reported 2Q12 results that were mostly in line with expectations. Weak third-quarter guidance reflects macro-related issues as the company believes it is gaining share in several categories. Other noteworthy items from the quarter: the company's Indian project was approved to move to the next step with a resolution expected by year-end; TowerJazz completed a 1-for-15 reverse stock split to remain listed on NASDAQ; and the company continues to inch forward on a capital notes resolution with Bank Hapoalim and Bank Leumi able to get a portion of its shares registered with the SEC. The balance sheet is getting stronger as the company generated $33M in operating cash (net of restructuring)."
For an analyst ratings summary and ratings history on Tower Semiconductor click here. For more ratings news on Tower Semiconductor click here.
Shares of Tower Semiconductor closed at $7.04 yesterday, with a 52 week range of $0.55-$10.77.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Andrew Uerkwitz, said, "Tower Semiconductor (TowerJazz) recently reported 2Q12 results that were mostly in line with expectations. Weak third-quarter guidance reflects macro-related issues as the company believes it is gaining share in several categories. Other noteworthy items from the quarter: the company's Indian project was approved to move to the next step with a resolution expected by year-end; TowerJazz completed a 1-for-15 reverse stock split to remain listed on NASDAQ; and the company continues to inch forward on a capital notes resolution with Bank Hapoalim and Bank Leumi able to get a portion of its shares registered with the SEC. The balance sheet is getting stronger as the company generated $33M in operating cash (net of restructuring)."
For an analyst ratings summary and ratings history on Tower Semiconductor click here. For more ratings news on Tower Semiconductor click here.
Shares of Tower Semiconductor closed at $7.04 yesterday, with a 52 week range of $0.55-$10.77.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- TowerJazz Receives 2013 Manufacturing Leadership 100 Award for Operational Excellence
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
- Williams-Sonoma (WSM) Delivers 'Clean' Q1 Beat - Analyst
Create E-mail Alert Related Categories
Analyst Comments, Stock Splits
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
