Tower Semiconductor Ltd. (NASDAQ:TSEM) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 840,100 shares, an increase of 57.6% from the January 15th total of 532,931 shares. Based on an average daily trading volume, of 705,659 shares, the short-interest ratio is presently 1.2 days.
A number of hedge funds have recently added to or reduced their stakes in TSEM. Epoch Investment Partners Inc. acquired a new position in Tower Semiconductor during the 3rd quarter valued at about $31,850,000. Clearbridge Investments LLC boosted its stake in Tower Semiconductor by 948,247.6% during the 3rd quarter. Clearbridge Investments LLC now owns 995,765 shares of the semiconductor company’s stock valued at $21,668,000 after purchasing an additional 995,660 shares during the last quarter. Ibex Investors LLC acquired a new position in Tower Semiconductor during the 4th quarter valued at about $11,011,000. FMR LLC boosted its stake in Tower Semiconductor by 197.1% during the 3rd quarter. FMR LLC now owns 529,400 shares of the semiconductor company’s stock valued at $11,520,000 after purchasing an additional 351,200 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Tower Semiconductor by 23.4% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,389,886 shares of the semiconductor company’s stock valued at $30,244,000 after purchasing an additional 263,833 shares during the last quarter. Institutional investors and hedge funds own 45.79% of the company’s stock.
TSEM stock opened at $15.88 on Thursday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.19, a P/E/G ratio of 1.21 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.93 and a quick ratio of 3.27. Tower Semiconductor has a 52-week low of $13.56 and a 52-week high of $34.28.
Several brokerages have recently commented on TSEM. BidaskClub downgraded Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Jefferies Financial Group reduced their target price on Tower Semiconductor from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Tower Semiconductor in a research note on Tuesday, October 30th. ValuEngine downgraded Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, TheStreet downgraded Tower Semiconductor from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Tower Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $27.50.
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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. The company 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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