Short Interest in Tower Semiconductor Ltd. (NASDAQ:TSEM) Rises By 22.2%

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 560,800 shares, a growth of 22.2% from the March 31st total of 458,900 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 520,200 shares, the days-to-cover ratio is currently 1.1 days.

A number of institutional investors have recently made changes to their positions in the business. LPL Financial LLC raised its holdings in Tower Semiconductor by 2.1% in the fourth quarter. LPL Financial LLC now owns 38,662 shares of the semiconductor company’s stock worth $998,000 after purchasing an additional 798 shares in the last quarter. Swiss National Bank raised its holdings in Tower Semiconductor by 0.5% in the fourth quarter. Swiss National Bank now owns 232,107 shares of the semiconductor company’s stock worth $6,014,000 after purchasing an additional 1,075 shares in the last quarter. Infini Master Fund bought a new position in Tower Semiconductor in the fourth quarter worth about $361,000. Winslow Capital Management LLC raised its holdings in Tower Semiconductor by 1.8% in the fourth quarter. Winslow Capital Management LLC now owns 100,300 shares of the semiconductor company’s stock worth $2,590,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC raised its holdings in Tower Semiconductor by 0.9% in the first quarter. Taylor Frigon Capital Management LLC now owns 264,781 shares of the semiconductor company’s stock worth $7,424,000 after purchasing an additional 2,305 shares in the last quarter. Institutional investors and hedge funds own 54.54% of the company’s stock.

NASDAQ:TSEM opened at $28.12 on Wednesday. Tower Semiconductor has a 1-year low of $17.61 and a 1-year high of $34.45. The company has a 50-day moving average of $29.06 and a 200 day moving average of $27.16. The firm has a market cap of $3.00 billion, a PE ratio of 41.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.09 and a quick ratio of 3.30.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, February 17th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.12. Tower Semiconductor had a net margin of 5.87% and a return on equity of 5.35%. The company had revenue of $345.21 million during the quarter, compared to analyst estimates of $340.00 million. Sell-side analysts anticipate that Tower Semiconductor will post 0.76 EPS for the current fiscal year.

A number of analysts have recently issued reports on TSEM shares. Needham & Company LLC boosted their target price on shares of Tower Semiconductor from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, January 13th. Credit Suisse Group raised shares of Tower Semiconductor from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $24.00 to $37.50 in a research note on Monday, January 18th. Craig Hallum boosted their target price on shares of Tower Semiconductor from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, February 18th. Finally, TheStreet raised shares of Tower Semiconductor from a “c” rating to a “b-” rating in a research note on Friday, February 26th.

Tower Semiconductor Company Profile

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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