Tower Semiconductor Ltd. (NASDAQ:TSEM) Sees Significant Increase in Short Interest

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,710,000 shares, a growth of 43.7% from the January 31st total of 1,190,000 shares. Based on an average daily volume of 713,500 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Susquehanna upped their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Craig Hallum lifted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after acquiring an additional 50,000 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Tower Semiconductor by 27.5% during the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after purchasing an additional 187,103 shares during the last quarter. Summit Partners Public Asset Management LLC grew its position in Tower Semiconductor by 1,146.9% in 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 purchasing an additional 1,376,315 shares in the last quarter. Barclays PLC increased its stake in Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after buying an additional 23,385 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Tower Semiconductor during the 3rd quarter worth approximately $573,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 0.0 %

NASDAQ:TSEM traded up $0.01 during trading hours on Monday, reaching $42.51. The company had a trading volume of 333,880 shares, compared to its average volume of 820,471. Tower Semiconductor has a twelve month low of $30.48 and a twelve month high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 22.91 and a beta of 0.88. The business’s 50-day simple moving average is $49.44 and its two-hundred day simple moving average is $46.39.

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.