Tower Semiconductor Ltd. (NASDAQ:TSEM) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 4,328 put options on the stock. This represents an increase of 2,108% compared to the average volume of 196 put options.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Moab Capital Partners LLC grew its holdings in Tower Semiconductor by 1.5% during the 4th quarter. Moab Capital Partners LLC now owns 3,617,815 shares of the semiconductor company’s stock worth $53,327,000 after acquiring an additional 54,350 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Tower Semiconductor by 1.2% in the 4th quarter. Macquarie Group Ltd. now owns 2,289,335 shares of the semiconductor company’s stock valued at $33,744,000 after purchasing an additional 28,200 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Tower Semiconductor by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 2,278,360 shares of the semiconductor company’s stock valued at $49,577,000 after purchasing an additional 72,781 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tower Semiconductor by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,278,360 shares of the semiconductor company’s stock valued at $49,577,000 after purchasing an additional 72,781 shares during the last quarter. Finally, Norges Bank bought a new position in Tower Semiconductor during the fourth quarter worth $23,491,000. 50.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on TSEM. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Tower Semiconductor in a research report on Tuesday, January 22nd. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th. Finally, ValuEngine raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.42.
TSEM stock traded down $0.20 during trading on Friday, reaching $16.38. 742,430 shares of the company were exchanged, compared to its average volume of 678,003. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 1.28 and a beta of 1.21. Tower Semiconductor has a twelve month low of $13.56 and a twelve month high of $30.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.85 and a quick ratio of 4.01.
Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Tuesday, February 19th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. The business had revenue of $333.59 million during the quarter, compared to analysts’ expectations of $338.08 million. Tower Semiconductor had a net margin of 10.40% and a return on equity of 13.59%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Tower Semiconductor will post 1.32 EPS for the current fiscal year.
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About Tower Semiconductor
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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