Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS. The company also offers wafer fabrication services and design enablement platform for design cycle, as well as transfer optimization and development process services to integrated device manufacturers and fabless companies. It serves various markets, such as consumer electronics, personal computers, communications, automotive, industrial, aerospace, and medical device products. The company was incorporated in 1993 and is headquartered in Migdal Haemek, Israel.
IPO Year: 1994
Exchange: NASDAQ
Website: towersemi.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/10/2024 | $36.00 → $55.00 | Neutral → Positive | Susquehanna |
| 2/29/2024 | $36.00 | Neutral | Susquehanna |
| 10/25/2023 | $35.00 | Buy | The Benchmark Company |
| 8/17/2023 | $53.00 → $38.00 | Hold → Buy | Craig Hallum |
| 2/15/2022 | $45.00 | Buy → Hold | Needham |
| 12/8/2021 | $42.00 → $46.00 | Buy | Jefferies |
Tower Semiconductor Ltd (NASDAQ:TSEM) reported a fiscal second-quarter 2024 revenue decline of 1.7% year-on-year to $351.2 million, beating the analyst consensus estimate of $350.1 million. The Israel-based contract chipmaker's adjusted EPS of $0.53 beat the analyst consensus estimate of $0.45. Gross profit was $86.9 million, up 0.5% Y/Y. The margin improved by 53 bps to 24.8%. Operating profit of $55.1 million climbed 9% Y/Y. The company generated $113 million in operating cash flow and held $1.23 billion in cash and equivalents as of June-end. Outlook: Tower Semiconductor expects third-quarter revenue of $370 million, with an upward or downward range of 5% versus the $369.9 mil
Business Outlook Tower Semiconductor guides revenue for the third quarter of 2024 to be $370 million, with an upward or downward range of 5%. Mid-range guidance reflects year over year and quarter over quarter growth.
CORRECTION: Benchmark analyst Cody Acree reiterates Tower Semiconductor (NASDAQ:TSEM) with a Buy and raises the price target from $40 to $50. - Price Target Change updated
Benchmark analyst Cody Acree reiterates Tower Semiconductor (NASDAQ:TSEM) with a Buy and raises the price target from $40 to $50.
Benchmark analyst Cody Acree reiterates Tower Semiconductor (NASDAQ:TSEM) with a Buy and maintains $40 price target.
Craig-Hallum analyst Richard Shannon maintains Tower Semiconductor (NASDAQ:TSEM) with a Buy and raises the price target from $40 to $44.
Susquehanna analyst Medhi Hosseini upgrades Tower Semiconductor (NASDAQ:TSEM) from Neutral to Positive and raises the price target from $36 to $55.
Tower Semiconductor Ltd (NASDAQ:TSEM) reported a fiscal first-quarter 2024 revenue decline of 8% year-on-year to $327.24 million, beating the analyst consensus estimate of $324.52 million. The Israel-based contract chipmaker’s adjusted EPS of $0.46 beat the analyst consensus estimate of $0.39. Gross profit was $72.61 million, down by 24.1% Y/Y. The margin declined 473 bps to 22.2%. Operating profit of $33.99 million declined 62% Y/Y. It generated $110 million in operating cash flow and held $1.24 billion in cash and equivalents as of March 31, 2024. Russell Ellwanger, the CEO of Tower, acknowledged the overall market downturn, specifically highlighting significant drops in demand
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SD - TOWER SEMICONDUCTOR LTD (0000928876) (Filer)
Susquehanna upgraded Tower Semi from Neutral to Positive and set a new price target of $55.00 from $36.00 previously
Susquehanna initiated coverage of Tower Semi with a rating of Neutral and set a new price target of $36.00
The Benchmark Company initiated coverage of Tower Semi with a rating of Buy and set a new price target of $35.00
Craig Hallum upgraded Tower Semi from Hold to Buy and set a new price target of $38.00 from $53.00 previously
Needham downgraded Tower Semiconductor from Buy to Hold and set a new price target of $45.00
Jefferies reiterated coverage of Tower Semiconductor with a rating of Buy and set a new price target of $46.00 from $42.00 previously
Craig Hallum reiterated coverage of Tower Semiconductor with a rating of Buy and set a new price target of $40.00 from $35.00 previously
Craig Hallum reiterated coverage of Tower Semiconductor with a rating of Buy and set a new price target of $35.00 from $27.00 previously
Tower Semiconductor Begins Production of 1.6Tbps Optical Transceivers on its Latest Silicon Photonics Platform Addressing the surging demand for faster, high-capacity solutions for AI, cloud computing, and data centers by doubling the speed of today's 800Gbps high-volume transceivers MIGDAL HAEMEK, Israel, November 19,2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), a leading foundry of high-value analog semiconductor solutions, today announced the start of volume production of 1.6 Tbps silicon photonic products for multiple lead customers based on its latest Silicon Photonics (SiPho) platform. Tower's latest platform includes innovations that have helped dou
2024 Fourth Quarter Revenue Guidance Completes Year of Quarter Over Quarter Growth Announces Additional SiPho and SiGe Capacity Build Out, Strategically Serving Expansive Customer Demand MIGDAL HAEMEK, Israel, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM)) reports today its results for the third quarter ended September 30, 2024. Third Quarter of 2024 Results Overview Revenue for the third quarter of 2024 was $371 million as compared to $351 million for the second quarter of 2024, representing 6% quarter over quarter growth. Revenue for the third quar
MIGDAL HAEMEK, Israel – October 21, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its third quarter 2024 earnings release on Wednesday, November 13, 2024. The Company will hold a conference call to discuss its third-quarter 2024 financial results and fourth-quarter 2024 guidance on Wednesday, November 13, 2024, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time). The call will be webcast and available through the Investor Relations section of Tower Semiconductor's website at https://ir.towersemi.com/, where the pre-registration form required for dia
Leading-Edge Wi-Fi 7 RF FEMs based on Tower's Advanced 300mm RFSOI Technology Deliver Enhanced Mobile Connectivity Performance and Efficiency MIGDAL HAEMEK, Israel, Sept 10, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), a leading foundry of high-value analog semiconductor solutions, today announced the production of Wi-Fi 7 RF front-end module (FEM) devices based on its advanced 300mm RFSOI technology. Partnering with Broadcom Inc. (NASDAQ:AVGO), Tower has enabled fully integrated Wi-Fi FEM devices on a single RFSOI die. This innovative solution delivers superior performance and efficiency compared to existing non-SOI technologies, setting a new standard in the market fo
MIGDAL HAEMEK, Israel, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ/TASE: TSEM), the leading foundry of high value analog semiconductor solutions, today announced its annual Technical Global Symposium (TGS) for 2024. This year's events will be held in person at two locations worldwide—USA and China—and will explore the theme "Empowering the Future: Analog Technology Innovations Shaping Our World". The event will cover key topics such as AI's transformative impact on various industries, technology megatrends, and Tower's pioneering solutions in connectivity, power applications and digital imaging. Attendees will learn how Tower's advanced platforms and design enablem
MIGDAL HAEMEK, Israel, July 24, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the second quarter ended June 30, 2024. Second Quarter of 2024 Results Overview Revenue for the second quarter of 2024 was $351 million as compared to $327 million for the first quarter of 2024. Gross profit for the second quarter of 2024 was $87 million as compared to $73 million for the first quarter of 2024. Operating profit for the second quarter of 2024 was $55 million and included $6 million restructuring income, net associated with the previously disclosed reorganization and restructure of our Japan operations during 2022, as compared to $34 mill
MIGDAL HAEMEK, Israel – July 3, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its second quarter 2024 earnings release on Wednesday, July 24, 2024. The Company will hold a conference call to discuss its second-quarter 2024 financial results and third-quarter 2024 guidance on Wednesday, July 24, 2024, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time). This call will be webcasted and can be accessed through the Investor Relations section on Tower Semiconductor's website at https://ir.towersemi.com/ or can also be accessed by calling the following nu
MIGDAL HAEMEK, Israel, May 09, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the first quarter ended March 31, 2024. First Quarter of 2024 Results Overview Revenue for the first quarter of 2024 was $327 million as compared to $352 million for the fourth quarter of 2023. Revenue for the first quarter of 2023 was $356 million. Gross profit for the first quarter of 2024 was $73 million as compared to $84 million for the fourth quarter of 2023. Gross profit for the first quarter of 2023 was $96 million. Operating profit for the first quarter of 2024 was $34 million, as compared to $45 million in the fourth qua
MIGDAL HAEMEK, Israel, May 02, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, today announced that its President, Dr. Marco Racanelli, will attend the 52nd Annual TD Cowen Technology, Media & Telecom Conference on Wednesday, May 29 and Thursday May 30, 2024. The conference will take place at the InterContinental New York Barclay Hotel in New York. At the conference, there will be an opportunity for investors to meet one-on-one with management. Interested investors should contact the conference organizers or email the investor relations team at [email protected]. About Tower Semiconductor Tower Semiconductor Ltd.
MIGDAL HAEMEK, Israel, May 01, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, today announced that its Chief Executive Officer, Russell Ellwanger, will participate in the 52nd Annual JP Morgan Global Technology, Media, and Communications Conference on Monday, May 20 and Tuesday, May 21. The conference will take place at The Westin Boston Seaport District Hotel in Boston. Mr. Ellwanger will participate in a fireside chat on Monday, May 20 at 2:30 pm ET. The presentation will be simultaneously webcast and will be accessible from the investor relations section of Tower Semiconductor's website at https://ir.towersemi.com/. At t
2024 Fourth Quarter Revenue Guidance Completes Year of Quarter Over Quarter Growth Announces Additional SiPho and SiGe Capacity Build Out, Strategically Serving Expansive Customer Demand MIGDAL HAEMEK, Israel, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM)) reports today its results for the third quarter ended September 30, 2024. Third Quarter of 2024 Results Overview Revenue for the third quarter of 2024 was $371 million as compared to $351 million for the second quarter of 2024, representing 6% quarter over quarter growth. Revenue for the third quar
MIGDAL HAEMEK, Israel – October 21, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its third quarter 2024 earnings release on Wednesday, November 13, 2024. The Company will hold a conference call to discuss its third-quarter 2024 financial results and fourth-quarter 2024 guidance on Wednesday, November 13, 2024, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time). The call will be webcast and available through the Investor Relations section of Tower Semiconductor's website at https://ir.towersemi.com/, where the pre-registration form required for dia
MIGDAL HAEMEK, Israel, July 24, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the second quarter ended June 30, 2024. Second Quarter of 2024 Results Overview Revenue for the second quarter of 2024 was $351 million as compared to $327 million for the first quarter of 2024. Gross profit for the second quarter of 2024 was $87 million as compared to $73 million for the first quarter of 2024. Operating profit for the second quarter of 2024 was $55 million and included $6 million restructuring income, net associated with the previously disclosed reorganization and restructure of our Japan operations during 2022, as compared to $34 mill
MIGDAL HAEMEK, Israel – July 3, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its second quarter 2024 earnings release on Wednesday, July 24, 2024. The Company will hold a conference call to discuss its second-quarter 2024 financial results and third-quarter 2024 guidance on Wednesday, July 24, 2024, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time). This call will be webcasted and can be accessed through the Investor Relations section on Tower Semiconductor's website at https://ir.towersemi.com/ or can also be accessed by calling the following nu
MIGDAL HAEMEK, Israel, May 09, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the first quarter ended March 31, 2024. First Quarter of 2024 Results Overview Revenue for the first quarter of 2024 was $327 million as compared to $352 million for the fourth quarter of 2023. Revenue for the first quarter of 2023 was $356 million. Gross profit for the first quarter of 2024 was $73 million as compared to $84 million for the fourth quarter of 2023. Gross profit for the first quarter of 2023 was $96 million. Operating profit for the first quarter of 2024 was $34 million, as compared to $45 million in the fourth qua
MIGDAL HAEMEK, Israel – April 24, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its first quarter 2024 earnings release on Thursday, May 9, 2024. The Company will hold a conference call to discuss its first quarter 2024 financial results and second quarter 2024 guidance on Thursday, May 9, 2024, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time). This call will be webcasted and can be accessed through the Investor Relations section on Tower Semiconductor's website at https://ir.towersemi.com/ or can also be accessed by calling the following numbers
MIGDAL HAEMEK, Israel, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the fourth quarter and for the year ended December 31, 2023. Fourth Quarter of 2023 Results Overview Revenue for the fourth quarter of 2023 was $352 million as compared with $358 million for the third quarter of 2023. Revenue for the fourth quarter of 2022 was $403 million. Gross profit for the fourth quarter of 2023 was $84 million as compared with $87 million for the third quarter of 2023. Gross profit for the fourth quarter of 2022 was $125 million. Operating profit for the fourth quarter of 2023 was $45 milli
MIGDAL HAEMEK, Israel – January 24, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its fourth quarter and fiscal year 2023 earnings release on Wednesday, February 14, 2024. The Company will hold a conference call to discuss its fourth quarter and fiscal year 2023 financial results and first quarter 2024 guidance on Wednesday, February 14, 2024, at 10:30 a.m. Eastern Time (09:30 a.m. Central, 08:30 a.m. Mountain, 07:30 a.m. Pacific and 05:30 p.m. Israel time). This call will be webcasted and can be accessed through the Investor Relations section on Tower Semiconductor's website at https://ir.towersemi.com/ or can
MIGDAL HAEMEK, Israel, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the third quarter ended September 30, 2023. Highlights Entered into a capacity corridor agreement with Intel, enabling Tower additional high-volume 12-inch capacity.Third quarter 2023 revenue of $358 million, as compared to $357 million for the second quarter of 2023.Net Profit for the third quarter of 2023 of $342 million, including $290 million net profit from the merger contract termination fee received from Intel. Mr. Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated: "This past period has b
MIGDAL HAEMEK, Israel – October 23, 2023 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its third quarter 2023 earnings release on Monday, November 13, 2023. The Company will hold a conference call to discuss its third quarter 2023 financial results and fourth quarter 2023 guidance on Monday, November 13, 2023, at 10:00 a.m. Eastern Time (09:00 a.m. Central, 08:00 a.m. Mountain, 07:00 a.m. Pacific and 05:00 p.m. Israel time). This call will be webcasted and can be accessed through the Investor Relations section on Tower Semiconductor's website at https://ir.towersemi.com/ or can also be accessed by calling the follo
SolarEdge Technologies, Inc. ("SolarEdge" or the "Company") (NASDAQ:SEDG), a global leader in smart energy technology, announced today the appointment of Ms. Dana Gross as a member of its Board of Directors, effective July 5, 2023. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230707196174/en/Dana Gross (Photo: Business Wire) Dana Gross joins SolarEdge as a well-seasoned board member. She will serve on the Board's Audit Committee and qualifies as an Audit Committee financial expert. Ms. Gross currently serves on the board of directors of Tower Semiconductors Ltd. (NASDAQ:TSEM) and Playtika Holding Inc. (NASDAQ:PLTK). Since 2022
TEL AVIV, Israel, July 16, 2021 /PRNewswire/ -- Start-Up Nation Central, the independent not-for-profit organization connecting global corporations, investors, and governments to the Israeli tech innovation ecosystem, today announced the appointment of Avi Hasson as its next Chief Executive Officer. Hasson's career spans executive leadership roles in the business, technology, and not-for-profit sectors. He served as Chief Scientist at Israel's Ministry of Economy and Industry, and as Founding Chairman of the Israel Innovation Authority (IIA), the government entity tasked with