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

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of unusually large options trading on Monday. Traders acquired 12,127 call options on the stock. This is an increase of 516% compared to the typical volume of 1,968 call options.

Tower Semiconductor Price Performance

TSEM stock opened at $39.06 on Tuesday. The company has a market capitalization of $4.27 billion, a P/E ratio of 8.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 5.38. Tower Semiconductor has a 52-week low of $21.43 and a 52-week high of $41.06. The business has a 50-day simple moving average of $35.32 and a two-hundred day simple moving average of $32.46.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $327.24 million during the quarter, compared to the consensus estimate of $325.00 million. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. Research analysts expect that Tower Semiconductor will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Senvest Management LLC boosted its stake in shares of Tower Semiconductor by 58.8% in the 4th quarter. Senvest Management LLC now owns 7,174,598 shares of the semiconductor company’s stock worth $218,969,000 after buying an additional 2,657,777 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tower Semiconductor by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after buying an additional 64,679 shares during the last quarter. Phoenix Holdings Ltd. raised its holdings in shares of Tower Semiconductor by 7.0% in the 3rd quarter. Phoenix Holdings Ltd. now owns 3,668,022 shares of the semiconductor company’s stock worth $90,089,000 after purchasing an additional 239,518 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Tower Semiconductor by 28.9% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,639,897 shares of the semiconductor company’s stock worth $121,755,000 after purchasing an additional 816,266 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Tower Semiconductor by 83.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock worth $96,456,000 after purchasing an additional 1,437,535 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TSEM shares. Susquehanna raised Tower Semiconductor from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $36.00 to $55.00 in a research report on Friday, May 10th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Tower Semiconductor in a research note on Friday, May 10th. StockNews.com upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Craig Hallum raised their target price on Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Tower Semiconductor presently has an average rating of “Buy” and a consensus target price of $46.33.

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.