Tower Semiconductor Ltd. (NASDAQ:TSEM) Sees Large Growth in Short Interest

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 1,710,000 shares, an increase 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 short-interest ratio is currently 2.4 days.

Analyst Ratings Changes

A number of brokerages have recently commented on TSEM. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. StockNews.com downgraded Tower Semiconductor from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Benchmark reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Wedbush reissued an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Finally, Craig Hallum boosted their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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Tower Semiconductor Stock Down 5.7 %

Shares of NASDAQ TSEM traded down $2.38 during mid-day trading on Thursday, reaching $39.06. 712,583 shares of the company were exchanged, compared to its average volume of 830,621. Tower Semiconductor has a 1 year low of $30.48 and a 1 year high of $55.31. The firm has a 50-day moving average of $48.81 and a 200 day moving average of $46.38. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 21.00 and a beta of 0.88. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05.

Institutional Trading of Tower Semiconductor

Hedge funds have recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in shares of Tower Semiconductor during the 3rd quarter worth approximately $27,000. R Squared Ltd acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $61,000. Blue Trust Inc. lifted its holdings in shares of Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 230 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Tower Semiconductor in the 4th quarter worth $134,000. Finally, Caption Management LLC purchased a new position in Tower Semiconductor during the 4th quarter worth $155,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.