Deprecated: Function create_function() is deprecated in /nas/content/live/tipranksblog/wp-content/plugins/php-code-widget/execphp.php on line 62

WordPress database error: [Table 'wp_tipranksblog.wp_responsive_menu' doesn't exist]
SELECT * FROM wp_responsive_menu /* From [blog.tipranks.com/tower-semiconductor-bucks-downhill-trend-by-reaffirming-q1-guidance-and-growth-rate/] in [/nas/content/live/tipranksblog/wp-content/plugins/responsive-menu/app/Database/Database.php:12] */

Tower Semiconductor Bucks Downhill Trend By Reaffirming Q1 Guidance and Growth Rate - TipRanks Financial Blog
TipRanks

Notifications

Tower Semiconductor Bucks Downhill Trend By Reaffirming Q1 Guidance and Growth Rate

Tower Semiconductor (TSEM) has given the bulls something to smile about after it reaffirmed its Q1 guidance on a business update call. The company also revealed that it expects quarter-over-quarter growth in 2Q and low double-digit organic growth in 2020.

“This is particularly encouraging, given that many other semiconductor names either negatively pre-announced or reduced their Q1 guidance” commented top-rated Needham analyst Rajvindra Gill, telling investors: “We expect TSEM’s strong balance sheet and diverse global operations to withstand potential future disruptions.”

As a result the analyst reiterated his TSEM buy rating with a $27 price target. From current levels, TipRanks shows that this suggests significant upside potential of almost 70%.

TSEM has benefited from a surge in data center orders for 25G, 100G and 400G SiGE products, partially offset by some weakness in mobile, noted the analyst. And despite near-term volatility, Gill expects TSEM to benefit from the 5G infrastructure roll-out and 5G smartphone RF content growth.

What’s more, TSEM indicated that all its factories are operating with no measurable impact from Covid-19. The company added that there have been no interruptions with major supply chain materials or any changes to air and sea freight lines. “Its factories are spread throughout the globe, minimizing potential future disruptions” explained Gill.

Related News:
Veeco Instruments Issues Quarterly Guidance After Operations Deemed Essential
Lockheed Martin Scores $4.7 Billion Defense Contract Modification
3 Penny Stocks With Triple-Digit Upside Potential

Harriet Lefton
Harriet Lefton, originally from the UK, began her career as a journalist specialising in the niche world of metal markets. She graduated from the University of Cambridge before becoming a qualified UK lawyer. Now she has turned her attention to the world of financial blogging, covering US stocks, analysts and all manner of things finance-related.

Leave a Reply

Your email address will not be published. Required fields are marked *

Leave a Reply

Your email address will not be published. Required fields are marked *