Tower Semiconductor Ltd Stock Price, News & Analysis

Tower Semiconductor (TSEM) and Cadence Design Systems announced the launch of a silicon-validated SP4T RF-SOI switch reference design flow. This innovative solution, utilizing the Cadence Virtuoso Design Platform, aims to streamline the design process for advanced 5G wireless, wireline, and automotive ICs. The collaboration enhances design capabilities by integrating custom IC design tools, multiphysics analysis, and electromagnetic simulations, allowing faster design closure. This development strengthens Tower's position in high-performance analog solutions, benefiting joint customers with increased design confidence.

Tower Semiconductor (NASDAQ: TSEM) reported record second quarter revenue of $362 million, reflecting a 17% total and 26% organic year-over-year growth. The company guided a third quarter revenue of $385 million, translating to 24% total and 38% organic growth. Key highlights include a significant increase in gross profit to $74 million and net profit rising to $31 million, up 62% year-over-year. Tower also expanded its capacity expansion plan by $100 million and established a partnership with ST Microelectronics to triple its 300mm capacity.

Tower Semiconductor (NASDAQ: TSEM) is set to release its second quarter 2021 earnings on August 2, 2021. A subsequent conference call will discuss the earnings results and provide guidance for the third quarter at 10:00 a.m. Eastern Time on the same day. The call will be accessible via the Investor Relations section of the Tower Semiconductor website. This release highlights the company’s role as a leading foundry in the high-value analog semiconductor market, emphasizing its diverse manufacturing capabilities across multiple facilities.

STMicroelectronics and Tower Semiconductor announced a partnership to accelerate the ramp-up of the Agrate R3 300mm fab in Italy, enhancing semiconductor production efficiency. ST will manage the operations while Tower installs equipment in one-third of the facility. This collaboration aims to expedite the fab's qualification and production, significantly improving utilization rates from early production stages. The fab is set to manufacture advanced technologies for automotive, industrial, and personal electronics applications, addressing supply tensions in these sectors.

Tower Semiconductor (NASDAQ/TASE: TSEM) announced key technology presentations at IMS 2021 and the RFIC conference, showcasing innovations in 5G, satellite communications, and quantum computing. The highlighted papers emphasize breakthrough RF and millimeter-wave technologies, including low noise amplifiers and novel RF switch configurations. Tower will also participate in a virtual exhibitor talk on June 21, discussing their 5G solutions. For more details on presentations and scheduled sessions, visit the event website.

Tower Semiconductor (NASDAQ: TSEM) reported a record revenue of $347 million for Q1 2021, representing 21% organic growth and 16% total growth year-over-year. The company anticipates Q2 2021 revenue of $360 million, reflecting 26% year-over-year organic growth. Significant improvements were noted in gross profit ($70 million, up 33%), operating profit ($32 million, 2X year-over-year), and net profit ($28 million, $0.26 EPS). Tower's capacity expansion plan includes $150 million in purchase orders for manufacturing tools. Standard & Poor’s reaffirmed a stable credit rating of "ilAA-."

AIStorm and Tower Semiconductor have partnered to introduce AI-in-Imager technology, leveraging Tower's Hi-K VIA capacitor memory for real-time machine learning in edge imagers. This technology enables AI computation directly at the pixel level, reducing power consumption and costs associated with traditional digital systems. The AI edge market is projected to grow significantly, from $6.72 billion in 2022 to $66.3 billion by 2025. AIStorm's solutions aim for superior performance in various devices, including handsets and IoT, enhancing 'always-on' functionality.

Gpixel and Tower Semiconductor have launched the GTOF0503, an innovative indirect Time of Flight (iToF) sensor for 3D imaging, addressing a rapidly growing market estimated at ~$4 billion. This sensor features a resolution of 640 x 480 pixels, offering superior performance in depth sensing and distance measurement applications. With advanced capabilities such as integrated light control and high-speed interfaces, the GTOF0503 is designed for diverse sectors including robotics and automotive. The market for such sensors is projected to reach ~$8 billion by 2025, highlighting significant growth potential.

Tower Semiconductor (NASDAQ: TSEM) will release its Q1 2021 earnings on May 12, 2021. A conference call to discuss these results and Q2 guidance will follow at 10:00 a.m. ET.

The call will be accessible via webcast or by phone. Tower Semiconductor is a leading foundry specializing in high-value analog semiconductor solutions, operating facilities in Israel, the U.S., and Japan.