Neumeier Poma Investment Counsel LLC Decreases Stake in Tower Semiconductor Ltd. $TSEM

Neumeier Poma Investment Counsel LLC lessened its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 41.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 457,288 shares of the semiconductor company’s stock after selling 324,080 shares during the quarter. Tower Semiconductor makes up 4.4% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its biggest holding. Neumeier Poma Investment Counsel LLC’s holdings in Tower Semiconductor were worth $53,695,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSEM. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $27,000. CIBC Private Wealth Group LLC grew its stake in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after buying an additional 300 shares during the last quarter. 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 worth $34,000 after purchasing an additional 226 shares during the period. Advisory Services Network LLC acquired a new position in shares of Tower Semiconductor during the third quarter worth $48,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 403 shares during the period. Institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSEM. Barclays lifted their price target 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. Susquehanna lifted their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Benchmark lifted their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wedbush lifted their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $261.31 on Friday. The firm has a market cap of $29.38 billion, a PE ratio of 121.54 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. Tower Semiconductor Ltd. has a 52 week low of $37.48 and a 52 week high of $302.86. The firm’s fifty day moving average is $225.84 and its 200-day moving average is $160.01.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. The business had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. Tower Semiconductor’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. Sell-side analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

About Tower Semiconductor

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.