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

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 873,500 shares, a growth of 44.0% from the May 31st total of 606,600 shares. Based on an average daily volume of 433,100 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On Tower Semiconductor

A number of large investors have recently made changes to their positions in TSEM. CVA Family Office LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $47,000. Quadrant Capital Group LLC grew its position in shares of Tower Semiconductor by 34.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 413 shares in the last quarter. Signaturefd LLC grew its position in Tower Semiconductor by 189.8% in the fourth quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 1,321 shares during the period. Principal Securities Inc. purchased a new position in Tower Semiconductor in the fourth quarter worth approximately $71,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Tower Semiconductor in the first quarter worth approximately $164,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of analyst reports. StockNews.com raised Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Susquehanna raised Tower Semiconductor from a “neutral” rating to a “positive” rating and increased their target price for the company from $36.00 to $55.00 in a report on Friday, May 10th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Tower Semiconductor in a report on Friday, May 10th. Craig Hallum increased their target price on Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, TheStreet raised Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Friday, March 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tower Semiconductor has an average rating of “Buy” and an average target price of $46.33.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock traded up $0.76 during mid-day trading on Friday, reaching $39.31. 420,026 shares of the stock traded hands, compared to its average volume of 389,463. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $36.54 and a 200 day moving average of $33.10. The stock has a market capitalization of $4.30 billion, a PE ratio of 8.91 and a beta of 0.90. Tower Semiconductor has a fifty-two week low of $21.43 and a fifty-two week high of $40.60.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $325.00 million. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. On average, analysts predict that Tower Semiconductor will post 1.67 EPS for the current year.

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.