Yes, SETSCREWS is a Scrabble word!

Letter values in Scrabble US: S 1, E 1, T 1, S 1, C 3, R 1, E 1, W 4, S 1.

Is it a valid word?

SETSCREWS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a screw that is used to adjust the tension on a spring
a screw (often without a head) that fits into the boss or hub of a wheel or cam etc. and prevents motion of the part relative to the shaft on which it is mounted