Neumeier Poma Investment Counsel LLC Sells 324,080 Shares of Tower Semiconductor Ltd. $TSEM

Neumeier Poma Investment Counsel LLC decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 457,288 shares of the semiconductor company’s stock after selling 324,080 shares during the period. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSEM. Amundi lifted its holdings in Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 10,042 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Tower Semiconductor by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 3,954 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tower Semiconductor by 0.7% during the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after purchasing an additional 662 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Tower Semiconductor during the second quarter valued at about $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Tower Semiconductor during the second quarter valued at about $5,809,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $261.31 on Friday. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $225.84 and its 200-day moving average price is $160.01. The firm has a market capitalization of $29.38 billion, a P/E ratio of 121.54 and a beta of 0.87. Tower Semiconductor Ltd. has a 1-year low of $37.48 and a 1-year high of $302.86.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on TSEM. Barclays upped their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Benchmark upped their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Susquehanna upped their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a report on Thursday, May 14th. Finally, Wedbush upped their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Two equities research 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, Tower Semiconductor currently has an average rating of “Hold” and a consensus price target of $276.75.

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.