On August 6, Tower Semiconductor rose 5.67% in regular trading, trading at $225.4/share, with turnover of $89.53 million. The stock rebounded after two consecutive sessions of profit-taking that had pulled shares down to around $228 from a pre-market high near $247.
The rebound is supported by the company's strong Q2 earnings released on August 4. Tower Semiconductor posted adjusted EPS of $0.88, significantly beating the $0.76 consensus estimate, while revenue of $460 million topped the $454.68 million expectation. Q3 revenue guidance of approximately $520 million also far exceeded the Street estimate of $490 million. Notably, the silicon photonics business emerged as a key growth driver, with annualized revenue surging from $180 million a year ago to $680 million, fueled by robust AI computing demand for optical interconnects. Wedbush had previously highlighted the company's consistent track record of meeting or exceeding guidance for eight consecutive quarters.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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