Stock Traders Purchase Large Volume of Put Options on Tower Semiconductor (NASDAQ:TSEM)

Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of unusually large options trading activity on Tuesday. Investors purchased 6,705 put options on the company. This is an increase of approximately 112% compared to the typical daily volume of 3,163 put options.

Analyst Upgrades and Downgrades

TSEM has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Craig Hallum raised their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Tower Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Y.D. More Investments Ltd lifted its position in Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after acquiring an additional 187,103 shares during the period. Summit Partners Public Asset Management LLC lifted its position in Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after acquiring an additional 1,376,315 shares during the period. Barclays PLC lifted its position in Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after acquiring an additional 23,385 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Tower Semiconductor during the 3rd quarter valued at about $1,979,000. Finally, Geode Capital Management LLC lifted its position in Tower Semiconductor by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock valued at $4,154,000 after acquiring an additional 823 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Up 4.1 %

Shares of NASDAQ TSEM opened at $38.37 on Thursday. Tower Semiconductor has a 1 year low of $30.48 and a 1 year high of $55.31. The stock has a market cap of $4.25 billion, a P/E ratio of 20.63 and a beta of 0.87. The firm has a 50-day moving average of $47.40 and a 200 day moving average of $46.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

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.