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

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of a significant drop in short interest in 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 daily volume of 570,600 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSEM. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. Craig Hallum raised their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Susquehanna raised their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.33.

Hedge Funds Weigh In On Tower Semiconductor

A number of large investors have recently added to or reduced their stakes in the company. Senvest Management LLC grew its position in shares of Tower Semiconductor by 1.7% in the 3rd quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock worth $368,262,000 after buying an additional 138,807 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Tower Semiconductor by 1.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after purchasing an additional 50,000 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after purchasing an additional 2,083,262 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock worth $123,529,000 after purchasing an additional 40,038 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its stake in Tower Semiconductor by 5.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company’s stock worth $113,220,000 after buying an additional 123,713 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $48.89 on Monday. The company has a market cap of $5.42 billion, a PE ratio of 26.43 and a beta of 0.88. Tower Semiconductor has a 52-week low of $28.11 and a 52-week high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The firm’s 50 day moving average price is $50.56 and its 200-day moving average price is $45.39.

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

About Tower Semiconductor

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.