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

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a large increase in short interest during 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. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 780,300 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new position in shares of Tower Semiconductor during the 4th quarter worth $61,000. Blue Trust Inc. raised its holdings in Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust purchased a new stake in Tower Semiconductor in the 4th quarter valued at about $134,000. Caption Management LLC purchased a new stake in Tower Semiconductor in the 4th quarter valued at about $155,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Tower Semiconductor in the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

TSEM has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tower Semiconductor has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Down 2.3 %

NASDAQ TSEM opened at $38.16 on Wednesday. Tower Semiconductor has a 52 week low of $30.74 and a 52 week 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 business’s fifty day simple moving average is $46.33 and its 200-day simple moving average is $46.17. The firm has a market cap of $4.23 billion, a PE ratio of 20.52 and a beta of 0.87.

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.