Stock Track | Tower Semiconductor Soars 5.10% Intraday on Analyst Upgrades and $1.3B Silicon Photonics Contract

Stock Track05-22

Tower Semiconductor's stock soared 5.10% intraday, driven by positive analyst sentiment and a major supply contract.

The rally follows multiple institutional target price upgrades, including Wedbush significantly raising its target from $140 to $300, and CITIC Securities maintaining a buy rating with a $316 target price. Additionally, the company secured a landmark $1.3 billion long-term silicon photonics wafer supply contract for AI data center high-speed data transmission, with $290 million in prepayments already received.

Strong first-quarter results also supported the move, with revenue up 15% year-over-year to $414 million, net profit surging 62%, and silicon photonics revenue tripling. The stock's gain indicates renewed buying interest after a recent pullback.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment