Tower Semiconductor Sees Unusually High Options Volume (NASDAQ:TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw unusually large options trading on Friday. Investors acquired 12,608 put options on the stock. This is an increase of approximately 331% compared to the average daily volume of 2,922 put options.

Analyst Ratings Changes

A number of research firms recently weighed in on TSEM. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. Craig Hallum raised their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Susquehanna lifted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Institutional Investors Weigh In On Tower Semiconductor

A number of institutional investors have recently added to or reduced their stakes in TSEM. Transcendent Capital Group LLC purchased a new stake in Tower Semiconductor in the 3rd quarter valued at about $27,000. USA Financial Formulas purchased a new stake in shares of Tower Semiconductor during the third quarter worth approximately $38,000. Blue Trust Inc. grew its holdings in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares during the period. Signaturefd LLC grew its holdings in Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Tower Semiconductor during the second quarter valued at $200,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 0.9 %

NASDAQ:TSEM opened at $51.02 on Friday. The firm has a market cap of $5.65 billion, a PE ratio of 27.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The company has a 50-day moving average of $46.61 and a 200 day moving average of $42.89. Tower Semiconductor has a 1-year low of $28.02 and a 1-year high of $54.27.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Tower Semiconductor’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts anticipate 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.