Tower Semiconductor Experiences Unusual Options Trading Activity

Tower Semiconductor Ltd. (NASDAQ:TSEM) observed a significant spike in options trading on Tuesday, with traders acquiring a total of 6,705 put options. This volume marks an increase of approximately 112% compared to the average daily volume of 3,163 put options.

Insights from Wall Street Analysts

Multiple research firms have provided insights on Tower Semiconductor. Craig Hallum recently raised their price target for Tower Semiconductor from $54.00 to $60.00, categorizing the stock with a “buy” rating in a report published on November 14. Similarly, Susquehanna adjusted their target from $55.00 to $60.00 and issued a “positive” rating for the company.

Benchmark also maintained a “buy” rating while establishing a price target of $60.00 on February 11. On the same date, Wedbush reiterated an “outperform” rating with a $60.00 price target. Currently, one analyst has rated the stock with a hold, while four have given it a buy rating. According to MarketBeat.com, Tower Semiconductor holds an average rating of “Moderate Buy” with a target price set at $60.00.

Performance of Tower Semiconductor Stock

As of Thursday, shares of Tower Semiconductor opened at $38.37. With a market capitalization of $4.25 billion, the company has a P/E ratio of 20.63 and a beta of 0.87. Additionally, it boasts a quick ratio of 5.23, a current ratio of 6.18, and a debt-to-equity ratio of 0.05. Over the past 50 days, the moving average price has been $47.40, while the 200-day moving average sits at $46.28. The stock has recorded a 52-week low of $30.48 and a 52-week high of $55.31.

Institutional Investors in Tower Semiconductor

Several hedge funds and institutional investors have recently adjusted their holdings in Tower Semiconductor. Blue Trust Inc. increased its stake by 12.7% during the fourth quarter, now owning 2,037 shares valued at $105,000 after acquiring an additional 230 shares. Nebula Research & Development LLC upped its position by 4.2%, bringing its total to 9,636 shares worth $496,000 after adding 388 shares.

Van ECK Associates Corp raised its holdings by 1.6%, totaling 33,680 shares valued at $1,484,000 after purchasing 522 additional shares. Mariner LLC also grew its stake by 6.7%, owning 8,485 shares now valued at $437,000 after buying an extra 533 shares. Additionally, Transcendent Capital Group LLC took a new position valued at approximately $27,000 during the third quarter. Overall, hedge funds and institutional investors currently own 70.51% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor Ltd. is an independent semiconductor foundry specializing in manufacturing analog-intensive mixed-signal semiconductor devices. With facilities in Israel, the United States, Japan, Europe, and other regions, the company offers various customizable process technologies. These include SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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