Tower Semiconductor Target of Unusually Large Options Trading (NASDAQ:TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw unusually large options trading on Friday. Traders acquired 12,608 put options on the stock. This is an increase of 331% compared to the average daily volume of 2,922 put options.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tower Semiconductor during the 3rd quarter valued at $27,000. USA Financial Formulas purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at $38,000. Blue Trust Inc. increased its stake in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,376 shares during the last quarter. Signaturefd LLC raised its position in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares in the last quarter. Finally, Scientech Research LLC purchased a new position in shares of Tower Semiconductor during the 2nd quarter valued at about $200,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Stock Up 0.6 %

Shares of TSEM stock traded up $0.31 on Friday, reaching $50.86. 132,513 shares of the company were exchanged, compared to its average volume of 529,498. The company has a 50-day moving average of $46.50 and a 200-day moving average of $42.76. Tower Semiconductor has a one year low of $28.02 and a one year high of $54.27. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 27.49 and a beta of 0.92.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Tower Semiconductor will post 1.77 earnings per share for the current year.

Analyst Ratings Changes

TSEM has been the subject of a number of recent research reports. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna lifted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Craig Hallum increased their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Tower Semiconductor has an average rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Company Profile

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.