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

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 6,705 put options on the stock. This represents an increase of 112% compared to the average daily volume of 3,163 put options.

Analyst Ratings Changes

A number of research firms have weighed in on TSEM. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. Susquehanna lifted their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Finally, Craig Hallum increased their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM traded up $0.00 during mid-day trading on Tuesday, reaching $36.06. The company’s stock had a trading volume of 674,599 shares, compared to its average volume of 537,315. Tower Semiconductor has a 1-year low of $30.48 and a 1-year high of $55.31. The stock has a market capitalization of $4.00 billion, a P/E ratio of 19.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The stock has a 50-day moving average of $47.96 and a two-hundred day moving average of $46.37.

Hedge Funds Weigh In On Tower Semiconductor

Several large investors have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at about $27,000. R Squared Ltd purchased a new stake in Tower Semiconductor in the 4th quarter valued at $61,000. Blue Trust Inc. boosted its stake in Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the period. Crews Bank & Trust purchased a new position in Tower Semiconductor during the 4th quarter worth $134,000. Finally, Caption Management LLC acquired a new position in Tower Semiconductor in the fourth quarter valued at $155,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.