Tower Semiconductor Sees Unusually Large Options Volume (TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of some unusual options trading activity on Thursday. Stock investors bought 1,386 put options on the company. This represents an increase of 2,135% compared to the average daily volume of 62 put options.

TSEM has been the subject of a number of recent research reports. Credit Suisse Group initiated coverage on shares of Tower Semiconductor in a research report on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 target price for the company. ValuEngine upgraded shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Drexel Hamilton increased their target price on shares of Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. BidaskClub cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, Needham & Company LLC increased their target price on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $43.75.

A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its position in Tower Semiconductor by 9.3% during the second quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 876 shares during the last quarter. First Allied Advisory Services Inc. increased its position in Tower Semiconductor by 2.1% during the second quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock worth $1,068,000 after purchasing an additional 905 shares during the last quarter. Renaissance Group LLC increased its position in Tower Semiconductor by 7.8% during the third quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 1,506 shares during the last quarter. Tanaka Capital Management Inc. increased its position in Tower Semiconductor by 1.4% during the second quarter. Tanaka Capital Management Inc. now owns 178,186 shares of the semiconductor company’s stock worth $4,250,000 after purchasing an additional 2,453 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Tower Semiconductor by 17.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 20,500 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 43.84% of the company’s stock.

Shares of Tower Semiconductor (NASDAQ TSEM) opened at $33.78 on Friday. Tower Semiconductor has a 12-month low of $19.97 and a 12-month high of $36.69. The stock has a market cap of $3,160.00, a PE ratio of 18.56, a P/E/G ratio of 0.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.07. Tower Semiconductor had a net margin of 14.53% and a return on equity of 27.82%. analysts predict that Tower Semiconductor will post 2.02 EPS for the current year.

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Tower Semiconductor Company Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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