Investors Purchase Large Volume of Call Options on Tower Semiconductor (NASDAQ:TSEM)


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Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 4,431 call options on the company. This represents an increase of approximately 2,196% compared to the typical daily volume of 193 call options.

TSEM has been the topic of a number of research reports. Credit Suisse Group upgraded shares of Tower Semiconductor from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $24.00 to $37.50 in a research report on Monday, January 18th. Craig Hallum lifted their price objective on shares of Tower Semiconductor from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, February 18th. TheStreet raised Tower Semiconductor from a “c” rating to a “b-” rating in a research report on Friday, February 26th. Finally, Needham & Company LLC raised their target price on Tower Semiconductor from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, January 13th.

Shares of Tower Semiconductor stock opened at $29.94 on Thursday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 44.69 and a beta of 1.37. Tower Semiconductor has a 52-week low of $16.87 and a 52-week high of $34.45. The company has a fifty day moving average of $29.30 and a 200-day moving average of $25.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.30 and a current ratio of 4.09.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 17th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.12. Tower Semiconductor had a return on equity of 5.35% and a net margin of 5.87%. The firm had revenue of $345.21 million for the quarter, compared to analysts’ expectations of $340.00 million. On average, equities research analysts forecast that Tower Semiconductor will post 0.76 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of TSEM. Dimensional Fund Advisors LP boosted its stake in Tower Semiconductor by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 515,710 shares of the semiconductor company’s stock valued at $13,316,000 after purchasing an additional 12,466 shares during the last quarter. Norges Bank bought a new position in shares of Tower Semiconductor in the 4th quarter worth approximately $18,003,000. Hsbc Holdings PLC bought a new position in Tower Semiconductor in the 4th quarter worth $205,000. JPMorgan Chase & Co. increased its holdings in Tower Semiconductor by 395.6% in the 4th quarter. JPMorgan Chase & Co. now owns 52,229 shares of the semiconductor company’s stock worth $1,349,000 after acquiring an additional 41,690 shares in the last quarter. Finally, Parsifal Capital Management LP lifted its stake in shares of Tower Semiconductor by 23.3% during the 4th quarter. Parsifal Capital Management LP now owns 2,109,792 shares of the semiconductor company’s stock valued at $54,475,000 after buying an additional 397,994 shares in the last quarter. 54.54% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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