Neumeier Poma Investment Counsel LLC grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 681,215 shares of the semiconductor company's stock after buying an additional 39,900 shares during the period. Tower Semiconductor accounts for 2.6% of Neumeier Poma Investment Counsel LLC's portfolio, making the stock its 16th biggest holding. Neumeier Poma Investment Counsel LLC owned 0.61% of Tower Semiconductor worth $24,292,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new stake in Tower Semiconductor during the 1st quarter worth approximately $551,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Tower Semiconductor by 8.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,715 shares of the semiconductor company's stock worth $525,000 after purchasing an additional 1,138 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth $247,000. Fifth Third Bancorp raised its position in shares of Tower Semiconductor by 18.0% during the 1st quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company's stock valued at $352,000 after purchasing an additional 1,509 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at $249,000. 70.51% of the stock is currently owned by institutional investors.
Tower Semiconductor Stock Performance
Shares of NASDAQ TSEM opened at $48.86 on Thursday. The company has a market cap of $5.41 billion, a P/E ratio of 28.08 and a beta of 0.77. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.82 and a current ratio of 6.57. The firm's fifty day moving average is $43.92 and its two-hundred day moving average is $41.81.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). Tower Semiconductor had a net margin of 13.20% and a return on equity of 7.37%. The firm had revenue of $372.06 million for the quarter, compared to analysts' expectations of $371.63 million. During the same quarter in the previous year, the business earned $0.53 EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
TSEM has been the subject of several recent analyst reports. Benchmark reaffirmed a "buy" rating and issued a $66.00 target price (up previously from $60.00) on shares of Tower Semiconductor in a report on Monday. Susquehanna set a $66.00 target price on Tower Semiconductor and gave the stock a "positive" rating in a research report on Tuesday. Finally, Wedbush set a $65.00 target price on Tower Semiconductor and gave the company an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Tower Semiconductor has an average rating of "Moderate Buy" and an average price target of $64.25.
Read Our Latest Report on Tower Semiconductor
Tower Semiconductor Company Profile
(
Free Report)
Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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