Tower Semiconductor Target of Unusually Large Options Trading (NASDAQ:TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of some unusual options trading on Thursday. Investors acquired 9,694 call options on the company. This represents an increase of approximately 199% compared to the typical volume of 3,245 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TSEM shares. Barclays boosted their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Susquehanna restated a “positive” rating and set a $180.00 target price on shares of Tower Semiconductor in a research report on Thursday, February 12th. Wedbush upped their price target on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Finally, Benchmark raised their price objective on shares of Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $156.75.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock worth $93,000 after buying an additional 77 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Tower Semiconductor by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 127 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Tower Semiconductor by 2.6% in the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 131 shares during the last quarter. Mariner LLC raised its position in shares of Tower Semiconductor by 2.4% during the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 207 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Tower Semiconductor by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock valued at $922,000 after acquiring an additional 218 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $166.08 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. The firm has a market cap of $18.68 billion, a PE ratio of 86.05 and a beta of 0.91. The firm has a 50 day simple moving average of $129.41 and a 200-day simple moving average of $104.44. Tower Semiconductor has a 1-year low of $28.64 and a 1-year high of $166.44.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $440.21 million for the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. Tower Semiconductor’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. On average, equities analysts expect that Tower Semiconductor will post 1.67 EPS for the current year.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.