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

Tower Semiconductor Ltd. (NASDAQ:TSEMGet Free Report) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 599,700 shares, a decline of 60.3% from the January 15th total of 1,510,000 shares. Based on an average daily trading volume, of 764,100 shares, the days-to-cover ratio is presently 0.8 days.

Tower Semiconductor Stock Performance

NASDAQ TSEM traded up $0.68 during midday trading on Monday, hitting $30.09. The company had a trading volume of 859,189 shares, compared to its average volume of 594,615. Tower Semiconductor has a fifty-two week low of $21.43 and a fifty-two week high of $45.87. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 6.12 and a beta of 0.94. The firm has a fifty day simple moving average of $29.57 and a two-hundred day simple moving average of $28.21. The company has a quick ratio of 5.47, a current ratio of 6.65 and a debt-to-equity ratio of 0.08.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last announced its quarterly earnings data on Monday, November 13th. The semiconductor company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Tower Semiconductor had a return on equity of 10.85% and a net margin of 37.17%. The company had revenue of $358.17 million for the quarter, compared to analyst estimates of $359.17 million. Equities analysts forecast that Tower Semiconductor will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of Tower Semiconductor

Several institutional investors have recently bought and sold shares of TSEM. Citigroup Inc. grew its holdings in Tower Semiconductor by 53.4% during the 1st quarter. Citigroup Inc. now owns 28,383 shares of the semiconductor company’s stock worth $1,376,000 after acquiring an additional 9,882 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tower Semiconductor during the first quarter worth $208,000. Allianz Asset Management GmbH raised its position in shares of Tower Semiconductor by 3.3% during the first quarter. Allianz Asset Management GmbH now owns 35,320 shares of the semiconductor company’s stock worth $1,712,000 after acquiring an additional 1,125 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Tower Semiconductor by 2.1% during the first quarter. Vanguard Group Inc. now owns 3,239,808 shares of the semiconductor company’s stock worth $156,807,000 after acquiring an additional 65,515 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in shares of Tower Semiconductor during the first quarter worth approximately $4,979,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSEM shares. StockNews.com raised Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Benchmark initiated coverage on Tower Semiconductor in a research report on Wednesday, October 25th. They set a “buy” rating and a $35.00 target price for the company.

Read Our Latest Research Report on Tower Semiconductor

Tower Semiconductor Company Profile

(Get Free Report)

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.

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