Tower Semiconductor Ltd. (NASDAQ:TSEM) Short Interest Down 13.3% in January

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 1,300,000 shares, a drop of 13.3% from the December 31st total of 1,500,000 shares. Based on an average trading volume of 570,600 shares, the short-interest ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

TSEM has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Susquehanna upped their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Hedge Funds Weigh In On Tower Semiconductor

A number of large investors have recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new stake in shares of Tower Semiconductor in the third quarter valued at approximately $27,000. USA Financial Formulas acquired a new stake in Tower Semiconductor in the 3rd quarter valued at $38,000. R Squared Ltd purchased a new stake in Tower Semiconductor in the 4th quarter worth $61,000. Blue Trust Inc. raised its position in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares during the period. Finally, Signaturefd LLC lifted its holdings in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 0.4 %

Shares of NASDAQ:TSEM opened at $48.89 on Monday. The company has a market capitalization of $5.42 billion, a PE ratio of 26.43 and a beta of 0.88. Tower Semiconductor has a 12-month low of $28.11 and a 12-month high of $55.31. The business has a 50 day moving average of $50.56 and a two-hundred day moving average of $45.39. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. The company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. As a group, analysts forecast that Tower Semiconductor will post 1.77 EPS for the current year.

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.