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

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of a large 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 trading volume, of 713,500 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Trading of Tower Semiconductor

Several large investors have recently made changes to their positions in TSEM. Wealth Enhancement Advisory Services LLC bought a new stake in Tower Semiconductor during the 3rd quarter worth about $573,000. Van ECK Associates Corp grew its stake in shares of Tower Semiconductor by 1.6% during the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 522 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tower Semiconductor in the third quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. raised its position in 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 purchasing an additional 50,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Tower Semiconductor during the 3rd quarter worth $330,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 0.3 %

NASDAQ TSEM opened at $41.43 on Wednesday. The stock’s 50 day simple moving average is $49.03 and its 200 day simple moving average is $46.41. Tower Semiconductor has a one year low of $30.48 and a one year high of $55.31. The firm has a market cap of $4.59 billion, a PE ratio of 22.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

Analyst Ratings Changes

Several analysts have recently weighed in on TSEM shares. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Susquehanna upped their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Finally, Craig Hallum increased their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

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.