Short Interest in Tower Semiconductor Ltd. (NASDAQ:TSEM) Increases By 26.9%

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,170,000 shares, an increase of 26.9% from the February 13th total of 1,710,000 shares. Based on an average trading volume of 780,300 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.0% of the shares of the stock are sold short.

Tower Semiconductor Trading Down 1.0 %

Shares of TSEM stock traded down $0.40 on Friday, reaching $38.25. 301,303 shares of the stock were exchanged, compared to its average volume of 535,350. The stock has a 50 day moving average price of $45.81 and a 200 day moving average price of $46.07. The stock has a market cap of $4.24 billion, a PE ratio of 20.56 and a beta of 0.87. Tower Semiconductor has a one year low of $30.74 and a one year high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Senvest Management LLC raised its position in shares of Tower Semiconductor by 1.7% during the 3rd quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company's stock valued at $368,262,000 after acquiring an additional 138,807 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tower Semiconductor by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock valued at $205,954,000 after buying an additional 42,969 shares during the period. Point72 Asset Management L.P. boosted its holdings in Tower Semiconductor by 21.0% during the fourth quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock worth $193,604,000 after buying an additional 653,191 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Tower Semiconductor by 1.5% during the third quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company's stock worth $123,529,000 after purchasing an additional 40,038 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Tower Semiconductor by 251.9% during the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after buying an additional 1,260,683 shares during the period. Institutional investors own 70.51% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TSEM shares. Wedbush reiterated an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark restated a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

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.