Short Interest in Tower Semiconductor Ltd. (NASDAQ:TSEM) Rises By 44.0%

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 873,500 shares, an increase of 44.0% from the May 31st total of 606,600 shares. Based on an average trading volume of 433,100 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Tower Semiconductor in a research report on Friday, May 10th. Craig Hallum raised their price objective on shares of Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Susquehanna raised shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and raised their price objective for the company from $36.00 to $55.00 in a research report on Friday, May 10th. StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Finally, TheStreet raised shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $46.33.

Tower Semiconductor Trading Up 2.0 %

NASDAQ:TSEM opened at $39.31 on Monday. Tower Semiconductor has a 12 month low of $21.43 and a 12 month high of $40.60. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 8.91 and a beta of 0.90. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $36.54 and its 200-day moving average is $33.13.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. Equities analysts anticipate that Tower Semiconductor will post 1.67 EPS for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC bought a new position in Tower Semiconductor during the fourth quarter worth $47,000. Quadrant Capital Group LLC increased its position in Tower Semiconductor by 34.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 413 shares during the period. Signaturefd LLC boosted its stake in Tower Semiconductor by 189.8% during the fourth quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock worth $62,000 after buying an additional 1,321 shares in the last quarter. Principal Securities Inc. acquired a new stake in Tower Semiconductor during the fourth quarter worth $71,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Tower Semiconductor during the first quarter worth $164,000. Institutional investors own 70.51% of the company’s stock.

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.