Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,400,000 shares, a growth of 22.8% from the September 30th total of 1,140,000 shares. Based on an average trading volume of 467,900 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.5% of the company’s stock are sold short.
A number of brokerages have recently issued reports on TSEM. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Tower Semiconductor in a report on Wednesday. TheStreet downgraded Tower Semiconductor from a “b-” rating to a “c” rating in a report on Monday, July 29th. ValuEngine downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Finally, BidaskClub upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Tower Semiconductor currently has an average rating of “Buy” and an average target price of $23.86.
Shares of NASDAQ:TSEM traded up $0.19 on Wednesday, reaching $23.23. The company had a trading volume of 2,728,300 shares, compared to its average volume of 460,308. Tower Semiconductor has a 52-week low of $13.56 and a 52-week high of $24.26. The firm’s 50 day simple moving average is $21.31 and its 200-day simple moving average is $18.49. The firm has a market capitalization of $2.22 billion, a PE ratio of 15.38, a PEG ratio of 2.54 and a beta of 1.27. The company has a current ratio of 4.82, a quick ratio of 3.99 and a debt-to-equity ratio of 0.21.
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. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
Recommended Story: Options Trading – What is a Straddle?
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.