Neumeier Poma Investment Counsel LLC Purchases 39,900 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Key Points

• Neumeier Poma Investment Counsel LLC increased its stake in Tower Semiconductor by 6.2%, acquiring 39,900 additional shares to reach a total of 681,215 shares, making it 2.6% of their portfolio.
• The recent earnings report for Tower Semiconductor revealed EPS of $0.41, missing estimates; however, the company's revenue saw a 6.0% year-over-year increase.
• Analysts have an average price target of $64.25 for Tower Semiconductor, with several firms issuing "buy" ratings and a target price of $66.00.

Neumeier Poma Investment Counsel LLC grew its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 681,215 shares of the semiconductor company's stock after acquiring an additional 39,900 shares during the period. Tower Semiconductor accounts for approximately 2.6% of Neumeier Poma Investment Counsel LLC's investment portfolio, making the stock its 16th biggest holding. Neumeier Poma Investment Counsel LLC owned approximately 0.61% of Tower Semiconductor worth $24,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC lifted its stake in Tower Semiconductor by 117.9% in the first quarter. TCTC Holdings LLC now owns 706 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 382 shares during the last quarter. Headlands Technologies LLC bought a new stake in Tower Semiconductor during the 1st quarter valued at $75,000. Caption Management LLC bought a new stake in Tower Semiconductor during the 4th quarter valued at $155,000. Squarepoint Ops LLC bought a new stake in Tower Semiconductor during the 4th quarter valued at $247,000. Finally, Cetera Investment Advisers bought a new stake in Tower Semiconductor during the 4th quarter valued at $249,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Price Performance

TSEM traded down $1.28 during trading on Monday, reaching $46.95. The stock had a trading volume of 512,353 shares, compared to its average volume of 722,635. The stock has a market cap of $5.20 billion, a PE ratio of 27.07 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.50 and a current ratio of 6.57. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31. The business has a 50-day moving average of $44.41 and a 200-day moving average of $41.62.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its earnings results on Monday, August 4th. The semiconductor company reported $0.41 EPS 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 during the quarter, compared to the consensus estimate of $371.63 million. During the same period in the prior year, the company earned $0.53 EPS. The firm's revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $66.00 price target (up previously from $60.00) on shares of Tower Semiconductor in a report on Monday, August 4th. Wedbush set a $65.00 price target on shares of Tower Semiconductor and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Susquehanna set a $66.00 price target on shares of Tower Semiconductor and gave the stock a "positive" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.25.

Tower Semiconductor Company Profile

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.