Tower Semiconductor Ltd. (NASDAQ:TSEM) Short Interest Down 16.4% in March

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,040,000 shares, a decline of 16.4% from the March 15th total of 2,440,000 shares. Based on an average daily volume of 794,400 shares, the short-interest ratio is currently 2.6 days. Currently, 1.9% of the shares of the company are short sold.

Tower Semiconductor Stock Performance

TSEM opened at $35.28 on Tuesday. The stock’s 50 day simple moving average is $38.59 and its 200-day simple moving average is $44.83. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.91 billion, a PE ratio of 18.97 and a beta of 0.84. Tower Semiconductor has a 1 year low of $28.64 and a 1 year high of $55.31.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Tower Semiconductor during the 4th quarter valued at about $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the period. Crews Bank & Trust acquired a new stake in Tower Semiconductor during the fourth quarter valued at approximately $134,000. Caption Management LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $155,000. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Tower Semiconductor in the 4th quarter worth approximately $203,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TSEM shares. Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Monday, April 7th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.00.

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.