Tower Semiconductor Ltd. (TSEM) Sees Large Increase in Short Interest

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.

ILLEGAL ACTIVITY WARNING: “Tower Semiconductor Ltd. (TSEM) Sees Large Increase in Short Interest” was published by Modern Readers and is owned by of Modern Readers. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.modernreaders.com/news/2019/02/14/tower-semiconductor-ltd-tsem-sees-large-increase-in-short-interest.html.

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.

Read More: What is a Derivative?

Receive News & Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply