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

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of a large 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. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 780,300 shares, the short-interest ratio is currently 2.8 days.

Analyst Ratings Changes

TSEM has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Tower Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after buying an additional 230 shares in the last quarter. Nebula Research & Development LLC grew its position in shares of Tower Semiconductor by 4.2% during the fourth quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company’s stock worth $496,000 after buying an additional 388 shares in the last quarter. Mariner LLC grew its position in shares of Tower Semiconductor by 6.7% during the fourth quarter. Mariner LLC now owns 8,485 shares of the semiconductor company’s stock worth $437,000 after buying an additional 533 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Tower Semiconductor by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,577 shares of the semiconductor company’s stock worth $703,000 after buying an additional 643 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Tower Semiconductor by 0.3% during the third quarter. King Luther Capital Management Corp now owns 225,107 shares of the semiconductor company’s stock worth $9,963,000 after buying an additional 695 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $38.16 on Wednesday. Tower Semiconductor has a one year low of $30.74 and a one year high of $55.31. The company has a market cap of $4.23 billion, a PE ratio of 20.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The business has a 50-day simple moving average of $46.33 and a 200-day simple moving average of $46.17.

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.