Tower Semiconductor Ltd. $TSEM Stock Holdings Raised by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC increased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 781,368 shares of the semiconductor company’s stock after acquiring an additional 66,333 shares during the quarter. Tower Semiconductor comprises about 4.6% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its biggest holding. Neumeier Poma Investment Counsel LLC owned 0.71% of Tower Semiconductor worth $56,493,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its holdings in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 226 shares during the period. Covestor Ltd purchased a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $52,000. GF Fund Management CO. LTD. purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at $83,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at $92,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSEM. Benchmark upped their price target on shares of Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Wedbush raised their price target on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Barclays raised their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Finally, Susquehanna reiterated a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $156.75.

Tower Semiconductor Stock Down 1.1%

Shares of Tower Semiconductor stock opened at $126.01 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $149.57. The company’s fifty day simple moving average is $126.64 and its two-hundred day simple moving average is $96.13.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company had revenue of $440.21 million for the quarter, compared to analysts’ expectations of $439.81 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. Tower Semiconductor’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.