On September 21, Tower Semiconductor rose 5.25% in regular trading, trading at $235.0/share, with turnover of $45.74 million, as multiple positive catalysts converged to lift the stock.
On the news front, Barclays officially initiated coverage of Tower Semiconductor on September 18 with an Overweight rating and a $310 price target, signaling substantial upside from current levels. This follows earlier initiations by BofA Securities (Buy, $367 target) and Stifel (Buy), reflecting a broadening Wall Street consensus on the company's growth trajectory. The average analyst price target stands at approximately $314.88.
Additionally, Tower Semiconductor and NewPhotonics announced the start of high-volume shipments of laser-integrated optical engine photonic integrated circuits designed for AI infrastructure. The NPG102 products, built on Tower's PH18DA silicon photonics platform, support data speeds of 800G to 1.6T, with 6.4T NPC505 chipsets planned for volume shipment in H1 next year. The broader semiconductor sector also provided tailwinds, with Intel up 9.12%, AMD up 8.62%, and Micron up 3.13%.
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