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

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of unusually large options trading on Friday. Stock investors bought 12,608 put options on the stock. This is an increase of 331% compared to the typical volume of 2,922 put options.

Hedge Funds Weigh In On Tower Semiconductor

Large investors have recently modified their holdings of the stock. Tidal Investments LLC raised its position in Tower Semiconductor by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company’s stock worth $3,172,000 after purchasing an additional 3,168 shares during the last quarter. Barclays PLC increased its stake in shares of Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after buying an additional 23,385 shares during the period. Geode Capital Management LLC increased its stake in shares of Tower Semiconductor by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock valued at $4,154,000 after buying an additional 823 shares during the period. Gordian Capital Singapore Pte Ltd raised its position in shares of Tower Semiconductor by 140.0% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 24,000 shares of the semiconductor company’s stock worth $1,062,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Tower Semiconductor during the third quarter valued at $1,979,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on TSEM. Craig Hallum increased their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Susquehanna boosted their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Trading Up 0.9 %

TSEM stock opened at $51.02 on Friday. The business has a fifty day moving average price of $46.61 and a 200 day moving average price of $42.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. Tower Semiconductor has a fifty-two week low of $28.02 and a fifty-two week high of $54.27. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 27.58 and a beta of 0.92.

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

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.