Tower Semiconductor Reports Record Q2, Raises Q3 Guidance, Boosts 2028 Targets
TSEM has more than doubled off its 52-week low of $43.12.
Summary
Tower Semiconductor announced record second-quarter results and strong third-quarter guidance, significantly raising its 2028 revenue and profit targets due to robust customer demand.
Key Events · Earnings and Guidance · TSEM
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Record Q2 Financial Performance
Reported record second-quarter 2026 revenue of $460 million (up 24% year-over-year), record gross profit of $138 million (up 72% year-over-year), and record net profit of $91 million (up 95% year-over-year), with diluted EPS of $0.79.
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Strong Q3 Revenue Guidance
Provided record third-quarter 2026 revenue guidance of $520 million, representing a 31% year-over-year and 13% quarter-over-quarter increase.
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Raised 2028 Business Targets
Increased its 2028 target business model to $3.6 billion in revenue and $1.2 billion in net profit, noting these targets are fully committed by customers.
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Significant Silicon Photonics (SiPho) Growth
SiPho revenue saw a triple-digit year-over-year increase, reaching a $680 million annual run rate in Q2 2026, with plans to exceed a $1 billion annual run rate by Q4 2026.
Analysis · TSEM · Manufacturing
Tower Semiconductor delivered exceptional second-quarter results, setting new records for revenue and profitability. The company also provided robust third-quarter revenue guidance, indicating continued strong growth. Most significantly, management raised its 2028 target business model to $3.6 billion in revenue and $1.2 billion in net profit, stating these targets are already fully committed by customers. This substantial increase in long-term outlook, driven by strong demand in key units like Silicon Photonics, suggests a significant and sustainable growth trajectory for the company.
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In the 30 days to Sep 23, 2026, 39.7% of the 353 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.30%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, TSEM was trading at $250.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $26.2B. The 52-week trading range was $43.12 to $319.94. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.