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

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,590,000 shares, a growth of 28.2% from the November 15th total of 1,240,000 shares. Based on an average trading volume of 485,000 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. Craig Hallum raised their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Susquehanna lifted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor during the third quarter worth approximately $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter worth approximately $38,000. Blue Trust Inc. boosted its stake in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,376 shares during the period. Signaturefd LLC boosted its stake in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the period. Finally, Scientech Research LLC acquired a new position in Tower Semiconductor during the second quarter valued at approximately $200,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $49.68 on Monday. The business’s 50 day moving average price is $45.97 and its two-hundred day moving average price is $42.44. The company has a market cap of $5.51 billion, a PE ratio of 27.01 and a beta of 0.92. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a twelve month low of $28.02 and a twelve month high of $50.66.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, analysts predict that Tower Semiconductor will post 1.77 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.