Tower Semiconductor Ltd. (TSEM) Forecasts Upbeat Quarterly Revenue

Tower Semiconductor Ltd. (NASDAQ:TSEM) is one of the 10 Best Photonic Computing Stocks to Buy Now.

On May 13, Reuters reported Tower Semiconductor Ltd. (NASDAQ:TSEM) forecast second-quarter revenue above estimates. It projects $455 million as compared to the $436.4 million consensus. The firm noted strong demand for analog and mixed signal processors due to artificial intelligence data center investment. The company disclosed $1.3 billion in silicon photonics deals for 2027 revenue, along with $290 million in customer advance payments calculated at securing production capacity and supporting future orders into 2028.

Tower Semiconductor Ltd. (TSEM) Forecasts Upbeat Quarterly Revenue

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CEO Russell Ellwanger said that he remains confident in reaching $2.8 billion in annual revenue and $750 million in net profit by 2028, even as customers commit additional advance payments due by January 2027. The corporation reported first-quarter revenue of $414 million, with a 15% growth and above estimates of $411 million. The adjusted earnings reached 65 cents per share versus 56 cents expected, Reuters reported.

Separately, Reuters reported that GlobalFoundries filed a patent infringement lawsuit against Tower Semiconductor Ltd. (NASDAQ:TSEM) in March, alleging violations of 11 patents tied to chip manufacturing for smartphones and other electronics.

Tower Semiconductor Ltd. (NASDAQ:TSEM) offers semiconductor solutions. It also provides technology and manufacturing platforms for integrated circuits in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical, and aerospace and defense.

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