5 Stocks With Easy Double-Digit Gains

4. Tower Semiconductor Ltd. (NASDAQ:TSEM)

Tower Semiconductor soared to a new 25-year high on Wednesday, after clinching more than $1.3 billion in silicon photonics (sipho) supply deals and posting a stellar earnings performance in the first quarter of the year.

In intra-day trading, the stock climbed to its highest price of $271.92 before trimming gains to finish the session just up by 22.61 percent at $270.77 apiece.

In an updated report, Tower Semiconductor Ltd. (NASDAQ:TSEM) said that it signed contracts with its largest customers for the supply of silicon photonics, amounting to $1.3 billion, of which $290 million was prepaid for capacity reservation.

The rally was further helped by announcements that the commitments were further reinforced by an even larger contractual wafer deal for 2028, for which additional associated prepayments are due by January 2027.

In line with the demand growth, Tower Semiconductor Ltd. (NASDAQ:TSEM) is ramping up its worldwide multi-fab SiPho capacity to achieve the targeted model of $2.8 billion revenue with $750 million net profit in 2028.

In other news, Tower Semiconductor Ltd. (NASDAQ:TSEM) reported a stellar earnings performance in the first quarter of the year, with attributable net profits surging by 62.5 percent to $65 million from only $40 million in the same period last year. Revenues grew by 15 percent to $413.6 million from $358.17 million year-on-year.