Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 560,800 shares, an increase of 22.2% from the March 31st total of 458,900 shares. Based on an average daily volume of 520,200 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.6% of the shares of the stock are short sold.
Tower Semiconductor stock opened at $28.12 on Wednesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 41.97 and a beta of 1.37. The stock has a fifty day moving average price of $29.06 and a 200 day moving average price of $27.16. Tower Semiconductor has a 52 week low of $17.61 and a 52 week high of $34.45. The company has a current ratio of 4.09, a quick ratio of 3.30 and a debt-to-equity ratio of 0.16.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, February 17th. The semiconductor company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.12. The company had revenue of $345.21 million during the quarter, compared to analyst estimates of $340.00 million. Tower Semiconductor had a return on equity of 5.35% and a net margin of 5.87%. As a group, equities analysts predict that Tower Semiconductor will post 0.76 EPS for the current year.
TSEM has been the topic of several recent research reports. Craig Hallum upped their price objective on Tower Semiconductor from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, February 18th. Needham & Company LLC upped their price objective on Tower Semiconductor from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, January 13th. Credit Suisse Group upgraded Tower Semiconductor from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $24.00 to $37.50 in a research report on Monday, January 18th. Finally, TheStreet upgraded Tower Semiconductor from a “c” rating to a “b-” rating in a research report on Friday, February 26th.
A number of large investors have recently made changes to their positions in TSEM. Envestnet Asset Management Inc. acquired a new stake in Tower Semiconductor during the first quarter worth about $202,000. Hsbc Holdings PLC acquired a new stake in Tower Semiconductor during the fourth quarter worth about $205,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $212,000. Trexquant Investment LP acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $216,000. Finally, Bank Hapoalim BM acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $237,000. Institutional investors own 54.54% of the company’s stock.
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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