Tower Semiconductor Ltd. (NASDAQ:TSEM) Sees Significant Increase in Short Interest – MarketBeat
Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Free Report) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 873,500 shares, a growth of 44.0% from the May 31st total of 606,600 shares. Based on an average daily volume of 433,100 shares, the short-interest ratio is presently 2.0 days.
Tower Semiconductor stock traded up $0.76 during mid-day trading on Friday, hitting $39.31. The company had a trading volume of 420,026 shares, compared to its average volume of 389,463. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 8.91 and a beta of 0.90. Tower Semiconductor has a 1 year low of $21.43 and a 1 year high of $40.60. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $36.54 and a 200 day moving average of $33.13.
Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. On average, sell-side analysts expect that Tower Semiconductor will post 1.67 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. increased its stake in Tower Semiconductor by 487.1% in the third quarter. Graham Capital Management L.P. now owns 39,550 shares of the semiconductor company’s stock valued at $971,000 after purchasing an additional 32,813 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tower Semiconductor by 5,887.4% during the third quarter. Wellington Management Group LLP now owns 499,405 shares of the semiconductor company’s stock worth $12,265,000 after acquiring an additional 491,064 shares during the last quarter. Jennison Associates LLC grew its position in shares of Tower Semiconductor by 40.2% during the fourth quarter. Jennison Associates LLC now owns 2,069,673 shares of the semiconductor company’s stock worth $63,166,000 after acquiring an additional 593,003 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Tower Semiconductor by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,669,868 shares of the semiconductor company’s stock worth $90,132,000 after acquiring an additional 74,264 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its position in shares of Tower Semiconductor by 8.2% during the fourth quarter. Eagle Global Advisors LLC now owns 79,223 shares of the semiconductor company’s stock worth $2,418,000 after acquiring an additional 6,000 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.
TSEM has been the topic of a number of recent research reports. TheStreet upgraded shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Susquehanna raised Tower Semiconductor from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $36.00 to $55.00 in a research report on Friday, May 10th. StockNews.com raised Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Craig Hallum boosted their price objective on Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Tower Semiconductor in a research report on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $46.33.
Check Out Our Latest Stock Analysis on 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.
Read More
- Five stocks we like better than Tower Semiconductor
- How to Effectively Use the MarketBeat Ratings Screener
- Upwork Stock’s Outlook: Numbers Solid Despite Gen-AI Challenges
- Why Are Stock Sectors Important to Successful Investing?
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- How to buy stock: A step-by-step guide for beginners
- MarketBeat Week in Review – 6/24 – 6/28
Should you invest $1,000 in Tower Semiconductor right now?
Before you consider Tower Semiconductor, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Tower Semiconductor wasn’t on the list.
While Tower Semiconductor currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2024 and why they should be in your portfolio.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools.
Featured By
345 N Reid Place, Suite 620, Sioux Falls, SD 57103
[email protected]
(844) 978-6257
© MarketBeat Media, LLC® 2010-2024. All rights reserved.
© 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.
My Account –