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

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Susquehanna boosted 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. Craig Hallum lifted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. StockNews.com cut Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $60.00.

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Tower Semiconductor Price Performance

TSEM traded up $1.52 during trading on Wednesday, hitting $38.37. 827,846 shares of the company traded hands, compared to its average volume of 541,742. Tower Semiconductor has a 1 year low of $30.48 and a 1 year high of $55.31. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The stock's 50-day simple moving average is $47.67 and its two-hundred day simple moving average is $46.33. The company has a market cap of $4.25 billion, a PE ratio of 20.63 and a beta of 0.87.

Institutional Trading of Tower Semiconductor

Hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd increased its position in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock worth $44,883,000 after purchasing an additional 187,103 shares during the last quarter. Summit Partners Public Asset Management LLC increased its holdings in shares of Tower Semiconductor by 1,146.9% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company's stock worth $66,227,000 after buying an additional 1,376,315 shares during the last quarter. Barclays PLC raised its position in shares of 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 buying an additional 23,385 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $1,979,000. Finally, Geode Capital Management LLC increased its stake in Tower Semiconductor by 0.9% during the third quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock worth $4,154,000 after acquiring an additional 823 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.