Tower Semiconductor Sees Unusually Large Options Volume (NASDAQ:TSEM)

Share on StockTwits

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.

COPYRIGHT VIOLATION NOTICE: This story was first published by Fairfield Current and is owned by of Fairfield Current. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.fairfieldcurrent.com/news/2019/03/15/tower-semiconductor-target-of-unusually-high-options-trading-tsem.html.

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.

Read More: Hedge Funds – Risk or Reward?

Receive News & Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply