Tower Semiconductor Ltd. $TSEM is Neumeier Poma Investment Counsel LLC’s Largest Position

Neumeier Poma Investment Counsel LLC boosted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 781,368 shares of the semiconductor company’s stock after acquiring an additional 66,333 shares during the period. Tower Semiconductor accounts for about 4.6% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its largest holding. Neumeier Poma Investment Counsel LLC’s holdings in Tower Semiconductor were worth $56,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. lifted its holdings in shares of Tower Semiconductor by 100.0% during the third 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 last quarter. Covestor Ltd purchased a new stake in shares of Tower Semiconductor in the 3rd quarter worth approximately $52,000. GF Fund Management CO. LTD. bought a new position in Tower Semiconductor during the 3rd quarter valued at approximately $83,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Tower Semiconductor during the third quarter valued at $92,000. Finally, Hennessy Advisors Inc. purchased a new position in Tower Semiconductor during the third quarter valued at $202,000. Institutional investors own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $126.01 on Wednesday. The firm’s 50-day moving average price is $126.64 and its 200-day moving average price is $96.13. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $149.57. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $439.81 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share 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.