Tower Semiconductor Ltd. (NASDAQ:TSEM) Short Interest Update

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,170,000 shares, an increase of 26.9% from the February 13th total of 1,710,000 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 780,300 shares, the days-to-cover ratio is currently 2.8 days.

Tower Semiconductor Trading Down 1.2 %

NASDAQ TSEM traded down $0.49 during mid-day trading on Tuesday, reaching $38.55. 44,317 shares of the stock were exchanged, compared to its average volume of 538,567. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The stock has a market cap of $4.27 billion, a P/E ratio of 20.74 and a beta of 0.87. The stock has a 50 day simple moving average of $46.60 and a 200-day simple moving average of $46.21. Tower Semiconductor has a one year low of $30.74 and a one year high of $55.31.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TSEM shares. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. grew its stake in Tower Semiconductor by 203.8% during the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock worth $137,444,000 after purchasing an additional 2,083,262 shares during the period. Summit Partners Public Asset Management LLC boosted its holdings in shares of Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after buying an additional 1,376,315 shares in the last quarter. Invesco Ltd. grew its position in shares of Tower Semiconductor by 251.9% during the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock worth $90,721,000 after buying an additional 1,260,683 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at $33,034,000. Finally, Shellback Capital LP acquired a new position in shares of Tower Semiconductor during the 4th quarter valued at $21,261,000. 70.51% of the stock is owned by institutional investors.

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.