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

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw some unusual options trading activity on Tuesday. Investors purchased 6,705 put options on the company. This represents an increase of 112% compared to the typical daily volume of 3,163 put options.

Tower Semiconductor Trading Up 0.0 %

Shares of NASDAQ:TSEM traded up $0.00 during trading on Tuesday, hitting $36.06. The company had a trading volume of 674,599 shares, compared to its average volume of 537,315. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 19.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The company has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $46.37. Tower Semiconductor has a one year low of $30.48 and a one year high of $55.31.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

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

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.