Matrix factorization (MF) methods have superior recommendation performance and are flexible to incorporate other side information,but it is hard for humans to interpret the derived latent factors.Recently,the item-item cooccurrence information is exploited to le item embeddings and enhance the recommendation performance.However,the item-item co-occurrence information,constructed from the sparse and long-tail distributed user-item interaction matrix,is over-estimated for rare items,which could lead to bias in leed item embeddings.In this paper,we seek to evaluate and improve the interpretability of item embeddings by leveraging a dense item-tag relevance matrix.Specifically,we design two metrics to quantitatively evaluate the interpretability of item embeddings from different viewpoints:interpretability of individual dimensions of item embeddings and semantic coherence of local neighborhoods in the latent space.We also propose a tag-informed item embedding (TIE) model that jointly factorizes the user-item interaction matrix,the item-item co-occurrence matrix and the item-tag relevance matrix with shared item embeddings so that different forms of information can co-operate with each other to le better item embeddings.Experiments on the MovieLens20M dataset demonstrate that compared with other state-of-the-art MF methods,TIE achieves better top-N recommendations,and the relative improvement is larger when the user-item interaction matrix becomes sparser.By leveraging the itemtag relevance information,individual dimensions of item embeddings are more interpretable and local neighborhoods in the latent space are more semantically coherent;the bias in leed item embeddings are also mitigated to some extent.