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

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw some unusual options trading activity on Tuesday. Stock traders purchased 6,705 put options on the company. This is an increase of approximately 112% compared to the average volume of 3,163 put options.

Wall Street Analyst Weigh In

Several research firms have commented on TSEM. Craig Hallum increased their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Susquehanna increased their price target 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. Benchmark reissued a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $38.37 on Thursday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 20.63 and a beta of 0.87. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $47.40 and a 200 day moving average price of $46.28. Tower Semiconductor has a 52 week low of $30.48 and a 52 week high of $55.31.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 230 shares during the last quarter. Nebula Research & Development LLC raised its position in shares of Tower Semiconductor by 4.2% in the 4th quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 388 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Tower Semiconductor by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 522 shares during the last quarter. Mariner LLC raised its position in shares of Tower Semiconductor by 6.7% in the 4th quarter. Mariner LLC now owns 8,485 shares of the semiconductor company’s stock valued at $437,000 after purchasing an additional 533 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at approximately $27,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.