24.51 +0.52 (2.17%)
Pre-Market: 5:35AM EST
|Bid||19.03 x 1300|
|Ask||0.00 x 3100|
|Day's Range||23.61 - 24.24|
|52 Week Range||13.56 - 24.26|
|Beta (5Y Monthly)||1.25|
|PE Ratio (TTM)||23.82|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Does the December share price for Tower Semiconductor Ltd. (NASDAQ:TSEM) reflect what it's really worth? Today, we...
Panasonic Corp said it would sell its loss-making semiconductor unit to Taiwan's Nuvoton Technology Corp for $250 million as the Japanese electronics giant struggles to lift its profit amid a lack of growth drivers. The sale is part of Panasonic's plans to cut fixed costs by 100 billion yen ($920 million) by the year ending in March 2022 by consolidating production sites and overhauling loss-making businesses. Panasonic has already divested most of its chip business as it lost to more nimble Korean and Taiwanese rivals, and has shut down or shifted its manufacturing facilities to its joint venture (JV) with Israel's Tower Semiconductor.
Israeli chip manufacturer TowerJazz's forecast for fourth-quarter sales came in lower than market expectations, sending its shares down sharply on Wednesday. TowerJazz, which makes analogue chips used in cars, medical sensors and power management, reported third-quarter earnings roughly in line with analysts forecasts, but also said fourth-quarter revenue would be in a range of 5% above or below $312 million. "Fourth quarter sales guidance (was) slightly below expectations," said Credit Suisse analyst Quang Tung Le, noting that a midpoint of $312 million in revenue would be 7% below a year ago and as well as lower than analysts' expectations.
Israeli chip manufacturer TowerJazz beat earnings forecasts by a cent in the third quarter and said its plan to expand production capacity at a plant in Japan was on track. TowerJazz, which specialises in analogue chips used in cars, medical sensors and power management, posted on Wednesday diluted earnings per share excluding one-time items of 25 cents in the quarter, down from 37 cents a year earlier. TowerJazz expects fourth-quarter revenue in a range of 5 percent above or below $312 million.
Tower Semiconductor Ltd. (NASDAQ:TSEM), which is in the semiconductor business, and is based in Israel, received a lot...
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When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...
The move above the recent price consolidation gives us a breakout from a bullish flag pattern. Rather than doubling up with a similar pattern to Apple, for TSEM the "W" pattern gives us a building bullish pattern with slightly stronger support due to multiple layers of price action underneath. Apple has the flag, but support gets thin below those levels.
Today we'll look at Tower Semiconductor Ltd. (NASDAQ:TSEM) and reflect on its potential as an investment. To be...
(Bloomberg Opinion) -- Now that they’ve snubbed activist investor Dan Loeb’s spinoff proposal, the onus is on Sony Corp.’s management to turn their imaging and sensing solutions business into something meaningful.Loeb’s Third Point LLC challenged Sony in a June 13 letter to split the company in two: A new Sony focused on entertainment; and Sony Technologies, which would comprise the image sensors which are used in most of the world’s smartphones. Doing so would unlock the potential of this semiconductor business, which has been underappreciated both at Sony and among investors.In Third Point’s view, Sony suffers from the common phenomenon of conglomerate discount. The complexity of its portfolio of businesses makes it difficult for investors to forecast and model numerous and sometimes unrelated earnings drivers. Third Point summarized the unit’s status succinctly: “Contributing only 18% of Sony’s consolidated earnings, this division is often treated by investors as an afterthought” As a standalone company, it argued, Sony Technologies would no longer be a buried, “uncut rough stone.’’ A spinoff would be able to attract investors with specific interest in semiconductor companies who might better appreciate its technological edge. Sony’s response this week in a letter to shareholders essentially says, Yes, you’re right. Our sensor business is awesome and has great potential. But we’re keeping it.Sony hasn’t been shy to dump units. In the past few years, it sold off the iconic Vaio computer business, overhauled its television division and retreated from a losing battle for market share in mobile phones. All of which have helped improve margins.Yet management justified holding onto the sensor business by explaining that a spinoff would create “meaningful sources of dis-synergy” if it was separated from Sony. It cited the example of how technology for its CMOS image sensors, which combine photo diodes (that convert light into current) with logic circuits (that process it), came about because the team accumulated such expertise when it developed systems for the PlayStation 3 games console.That’s a compelling argument. Except that the PS3 was released 13 years ago.Having Sony itself as a key Sony semiconductors client might strengthen the case for working side-by-side. But, inter-segment revenue for this unit was just 1.4% last year. This suggests that the parent is not a key customer for its semiconductor unit, or that the core business isn’t adequately compensating this division for the work it provides. Either scenario only strengthens Third Point’s thesis that the division isn’t afforded the value it deserves by investors, nor by Sony itself.This also suggests that most of the division’s customers are external and it would deal with them at arm’s length anyway.Further making the case that the division isn’t being fully leveraged are its financials. Sony has done a good job of improving profitability at this unit, from 0.2% operating margin in fiscal 2013 to 12.5% last year. But a 12.5% operating margin for a business that has a 70% share of the smartphone image sensor market is underwhelming.Rival Tower Semiconductor Ltd. has achieved figures as high as 16.1% and reported 11.9% operating margin last year. To be clear, image sensors are only one of Tower’s offerings, but the fact that Sony has few peers in this product segment tells you that profitability ought to be pretty high if only because clients have few other choices.Even though Sony has decided to reject Loeb’s advice while talking up the image sensor business, Third Point won’t be losing. Sony’s stock is up 32% since Reuters reported this latest stake-building in April, and 19% from when the New York-based hedge fund published its letter on Sony.Instead, if Sony management can’t live up to its promise to turn this technological edge into fatter profits, then even non-activist investors will punish them.To contact the author of this story: Tim Culpan at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
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After pondering its options and scouring for acquisitions, TowerJazz (TSEM) has finally reached a decision on its next capacity expansion plan. It has decided to invest $100 million in the 300mm TPSCo fab in Uozu, Japan. This will add capacity for its highly differentiated 300mm RF SOI, 65nm BCD Power Management, and CMOS imagers, both smallest pixel global shutter industrial imagers, as well as high quantum efficiency stack imagers for facial recognition and high-end photography platforms, all of whom are exhibiting demand outstripping current capacity.
Tracking-chip maker Impinj late Monday beat Wall Street's targets for sales and earnings in the second quarter. But the Impinj earnings report caused its stock to waver in extended trading.
Israeli chip manufacturer TowerJazz reported a less than expected drop in second quarter profit and said it would invest $100 million to expand production capacity at a plant in Japan to meet growing demand. TowerJazz, which specialises in analogue chips used in cars, medical sensors and power management, posted on Monday diluted earnings per share excluding one-time items of 24 cents in the quarter, down from 42 cents a year earlier. Due to forecasted customer demand exceeding the current capacity at its joint venture with Panasonic in Japan, TowerJazz said it will expand capacity for power management and image sensor platforms.
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If you own shares in Tower Semiconductor Ltd. (NASDAQ:TSEM) then it's worth thinking about how it contributes to the...
The company guided to a revenue range of $291 million to $321 million for Q2 2019, which has a midpoint of $306 million. The company however believes that these new terms, while reducing revenues, should produce similar net income for TowerJazz. GAAP net income was $26.3 million versus $26.1 million last year, while non- GAAP net income was $31.7 million versus $31.1 million.