Tower Semiconductor Jumps 8% on High-Volume AI Optical Chip Shipments
TSEM has more than doubled off its 52-week low of $64.83.
Summary
Tower Semiconductor shares surged about 8% Thursday after the company and NewPhotonics began high-volume shipments of laser-integrated photonic integrated circuits (PICs) for AI data centers. The chips support 800G to 1.6T data rates, with 6.4T solutions planned for volume production and NPC505 chipset shipments expected in H1 2027. The stock is now 3.6% above its 20-day SMA but still below its 50-day SMA, with resistance near $226.50. Analysts remain bullish with a Buy consensus and average price target of $320.40, including recent initiations from Stifel ($270) and BofA ($367). The move outpaced the Nasdaq's 1.45% gain, reflecting strong investor interest in AI optical connectivity.
At the time of this announcement, TSEM was trading at $213.61 on NASDAQ in the Technology sector, with a market capitalization of approximately $24.1B. The 52-week trading range was $64.83 to $319.94. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.