Tower Semiconductor Ltd. (NASDAQ:TSEM) Short Interest Update

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,660,000 shares, an increase of 18.6% from the September 30th total of 1,400,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average trading volume of 373,600 shares, the days-to-cover ratio is currently 4.4 days.

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Tower Semiconductor by 5.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 11,460 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 562 shares during the last quarter. KCS Wealth Advisory purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at $31,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Tower Semiconductor by 26.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,100 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 2,700 shares during the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at $72,000. Finally, M&T Bank Corp boosted its holdings in shares of Tower Semiconductor by 34.9% in the 2nd quarter. M&T Bank Corp now owns 14,873 shares of the semiconductor company’s stock valued at $235,000 after acquiring an additional 3,848 shares during the last quarter. 51.37% of the stock is currently owned by institutional investors.

NASDAQ:TSEM opened at $22.61 on Friday. The company has a market cap of $2.24 billion, a PE ratio of 14.97, a P/E/G ratio of 2.56 and a beta of 1.27. Tower Semiconductor has a twelve month low of $13.56 and a twelve month high of $24.26. The company has a current ratio of 4.82, a quick ratio of 3.99 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $21.38 and its two-hundred day moving average is $18.52.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $312.10 million for the quarter, compared to the consensus estimate of $312.05 million. Tower Semiconductor had a net margin of 9.34% and a return on equity of 11.19%. Tower Semiconductor’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. As a group, analysts expect that Tower Semiconductor will post 0.89 EPS for the current fiscal year.

Several analysts have weighed in on TSEM shares. Craig Hallum reissued a “buy” rating and set a $32.00 target price (up previously from $24.00) on shares of Tower Semiconductor in a research report on Thursday. They noted that the move was a valuation call. BidaskClub raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. TheStreet downgraded shares of Tower Semiconductor from a “b-” rating to a “c” rating in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Tower Semiconductor in a research report on Wednesday. Finally, ValuEngine downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Tower Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $26.57.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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