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

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

Tower Semiconductor Trading Up 2.0 %

Shares of NASDAQ:TSEM traded up $0.76 during trading on Friday, hitting $39.31. The company had a trading volume of 420,026 shares, compared to its average volume of 389,463. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 8.91 and a beta of 0.90. Tower Semiconductor has a one year low of $21.43 and a one year high of $40.60. The company has a fifty day simple moving average of $36.54 and a two-hundred day simple moving average of $33.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.38 and a quick ratio of 4.46.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, equities analysts forecast that Tower Semiconductor will post 1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the business. Senvest Management LLC raised its holdings in shares of Tower Semiconductor by 58.8% in the fourth quarter. Senvest Management LLC now owns 7,174,598 shares of the semiconductor company’s stock worth $218,969,000 after buying an additional 2,657,777 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tower Semiconductor by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after buying an additional 64,679 shares during the period. Phoenix Holdings Ltd. raised its holdings in shares of Tower Semiconductor by 7.0% in the third quarter. Phoenix Holdings Ltd. now owns 3,668,022 shares of the semiconductor company’s stock worth $90,089,000 after buying an additional 239,518 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Tower Semiconductor by 28.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,639,897 shares of the semiconductor company’s stock worth $121,755,000 after buying an additional 816,266 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Tower Semiconductor by 83.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock worth $96,456,000 after buying an additional 1,437,535 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

About Tower Semiconductor

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.