On October 8, Tower Semiconductor fell 5.12% in regular trading, trading at $235.53 per share, with turnover of $109 million. The decline extends the prior session's profit-taking following the AI optical engine chip catalyst.
The stock has been giving back gains since the September 17 announcement that Tower Semiconductor and NewPhotonics began high-volume shipments of laser-integrated optical engine photonic integrated circuits for AI infrastructure. The first products support 800G to 1.6T data rates, with 6.4T chipset volume shipments planned for the first half of 2027. Barclays initiated coverage with an Overweight rating and a $310 price target on September 18, while BofA Global Research previously initiated with a Buy rating and a $367 target on August 7. Despite the positive fundamental backdrop, the stock is experiencing continued profit-taking.
The semiconductor sector traded broadly lower, with Micron Technology down 2.0%, NVIDIA down 0.56%, Advanced Micro Devices down 1.63%, Intel down 3.45%, and Marvell Technology down 3.36%.
Tower Semiconductor Ltd. is an independent semiconductor foundry specializing in analog-intensive mixed-signal process technologies. It serves markets including consumer electronics, communications, automotive, industrial, and medical devices, with operations in Israel, the United States, Japan, and Europe.
(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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