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.
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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