Short Interest in Tower Semiconductor Ltd. (NASDAQ:TSEM) Expands By 43.7%

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 1,710,000 shares, a growth 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 presently 2.4 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after buying an additional 50,000 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after purchasing an additional 187,103 shares during the period. Summit Partners Public Asset Management LLC raised its stake in Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after purchasing an additional 1,376,315 shares during the period. Barclays PLC raised its stake in Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after purchasing an additional 23,385 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Tower Semiconductor during the 3rd quarter valued at approximately $573,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSEM has been the topic of several recent analyst reports. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Benchmark reissued a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. 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. Finally, Susquehanna raised their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Down 2.2 %

TSEM stock opened at $41.55 on Tuesday. Tower Semiconductor has a twelve month low of $30.48 and a twelve month high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.60 billion, a P/E ratio of 22.34 and a beta of 0.88. The business’s 50-day moving average price is $49.25 and its 200-day moving average price is $46.40.

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.