Time to Buy Tower Semiconductor Ltd. (USA) After Today’s Option Traders Bet?

 Time to Buy Tower Semiconductor Ltd. (USA) After Today's Option Traders Bet?

In today’s session Tower Semiconductor Ltd. (USA) (TSEM) registered an unusually high (2,461) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious TSEM increase. With 2,461 contracts traded and 40554 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: TSEM170120C00014000 closed last at: $2.75 or 19.6% up. About 82,463 shares traded hands. Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) has risen 18.37% since March 7, 2016 and is uptrending. It has outperformed by 10.78% the S&P500.

Analysts await Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) to report earnings on November, 9. They expect $0.40 earnings per share, down 35.48% or $0.22 from last year’s $0.62 per share. TSEM’s profit will be $33.62 million for 10.26 P/E if the $0.40 EPS becomes a reality. After $0.39 actual earnings per share reported by Tower Semiconductor Ltd. (USA) for the previous quarter, Wall Street now forecasts 2.56% EPS growth.

Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) Ratings Coverage

Out of 4 analysts covering TowerJazz (NASDAQ:TSEM), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $23 is the highest target while $18 is the lowest. The $20.33 average target is 23.81% above today’s ($16.42) stock price. TowerJazz has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Strong Buy” rating by Needham given on Friday, January 22. Chardan Capital Markets maintained Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) on Thursday, August 6 with “Buy” rating. Oppenheimer initiated Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) on Tuesday, December 15 with “Outperform” rating. The company was initiated on Tuesday, October 20 by Drexel Hamilton.

According to Zacks Investment Research, “Tower Semiconductor Ltd. is an independent manufacturer and service provider of semiconductor integrated circuits on silicon wafers. They provide IC design, manufacturing and turnkey services using advanced production capabilities and the proprietary IC designs of their customers, and are specializing in providing solutions for embedded non-volatile memory devices and CMOS image sensors. (press release)”

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The company has a market cap of $1.38 billion. The Firm focuses on producing integrated circuits based on the design specifications of its customers. It has a 11.04 P/E ratio. The Firm makes semiconductors for its clients primarily based on third-party designs.

TSEM Company Profile

Tower Semiconductor Ltd., incorporated on February 22, 1993, operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Firm focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Firm makes semiconductors for its clients primarily based on third-party designs. It offers process manufacture geometries of 0.35, 0.50, 0.55, 0.60, 0.80-micron and above on 150 millimeter wafers, 0.35, 0.18. 0.16, 0.13 and 0.11-micron on 200 millimeter wafers, and 65 nanometer and 45 nanometer on 300 millimeter wafers. It also provides design support and technical services. The Company’s ICs are incorporated into a range of products in markets, including consumer electronics, personal computers, communications, automotive, industrial and medical device products. The Firm has manufacturing facilities in the United States, Israel and Japan.

More important recent Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) news were published by: Benzinga.com which released: “Oppenheimer: Tower Semiconductor Has Legs, Multiples Set To Expand” on December 15, 2015, also Bidnessetc.com published article titled: “Pre-Market Movers: Fitbit Inc (FIT), Tower Semiconductor Ltd. (USA) (TSEM …”, Globenewswire.com published: “TowerJazz Completes Acquisition of Maxim’s Fabrication Facility in San Antonio …” on February 02, 2016. More interesting news about Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) was released by: Benzinga.com and their article: “20 Stocks Moving In Thursday’s Pre-Market Session” with publication date: August 04, 2016.

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