Tower Semiconductor Ltd. (NASDAQ:TSEM) was the target of some unusual options trading activity on Thursday. Investors bought 3,505 put options on the company. This is an increase of 1,914% compared to the typical daily volume of 174 put options.
Large investors have recently modified their holdings of the company. First Dallas Securities Inc. purchased a new stake in shares of Tower Semiconductor during the 4th quarter worth about $119,000. Winslow Evans & Crocker Inc. purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $120,000. Villere ST Denis J & Co. LLC purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at approximately $204,000. SG Americas Securities LLC purchased a new position in shares of Tower Semiconductor during the 3rd quarter valued at approximately $207,000. Finally, FineMark National Bank & Trust purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at approximately $208,000. Institutional investors and hedge funds own 43.64% of the company’s stock.
Tower Semiconductor (NASDAQ:TSEM) opened at $32.41 on Tuesday. Tower Semiconductor has a one year low of $20.60 and a one year high of $36.69. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34. The company has a market cap of $3,118.16, a PE ratio of 14.80, a PEG ratio of 0.86 and a beta of 0.92.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. ValuEngine upgraded shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Needham & Company LLC boosted their target price on shares of Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. BidaskClub downgraded Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $39.00 price target (up previously from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Tower Semiconductor currently has a consensus rating of “Buy” and an average target price of $43.75.
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About Tower Semiconductor
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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