Shares of Tower Semiconductor Ltd. (TSEM) gained about 5% on Wednesday morning after the contract chipmaker reported stronger fourth-quarter results and upbeat revenue guidance supported by demand tied to AI infrastructure.
The stock is currently trading at $143.03, up $6.46 or 4.73%, on the Nasdaq. The stock opened at $143.80 after closing Tuesday at $136.57. The stock has traded between $28.64 and $149.57 in the past 52-week period.
Tower Semiconductor reported fourth=quarter earnings of $80.13 million or $0.70 per share, up from $55.14 million or $0.49 per share a year earlier. Adjusted earnings came in at $0.78 per share, while revenue rose to $440.21 million.
The company benefited from strong demand for silicon photonics and high-speed data transmission chips used in AI data centers. For the first quarter, Tower expects revenue of about $412 million, plus or minus 5%, above analysts' average estimate of $408.38 million.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.