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

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

Analysts Set New Price Targets

TSEM has been the subject of several recent analyst reports. Craig Hallum raised their target price 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 downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna lifted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Trading Down 0.3 %

NASDAQ TSEM opened at $49.97 on Friday. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 1-year low of $28.02 and a 1-year high of $50.66. The firm’s fifty day simple moving average is $45.97 and its 200-day simple moving average is $42.37. The company has a market capitalization of $5.54 billion, a PE ratio of 27.01 and a beta of 0.92.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same period in the prior year, the firm posted $0.47 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tower Semiconductor will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of hedge funds have recently added to or reduced their stakes in TSEM. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor in the third quarter worth approximately $27,000. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor in the 3rd quarter valued at $38,000. Blue Trust Inc. boosted its holdings in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares in the last quarter. Signaturefd LLC boosted its holdings in Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in Tower Semiconductor during the second quarter worth $200,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

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.