On October 7, Tower Semiconductor fell 5.07% in regular trading, trading at $246.9/share, with turnover of $36.94 million. The decline follows a 5.5% intraday gain the previous session and reflects profit-taking after the company's AI optical engine chip catalyst.
On September 17, Tower Semiconductor and NewPhotonics announced high-volume shipments of laser-integrated optical engine photonic integrated circuits for AI infrastructure, supporting 800G to 1.6T data rates, with 6.4T chipset volume shipments planned for the first half of 2027. Barclays initiated coverage with an Overweight rating and a $310 target price on September 18, while BofA Global Research set a Buy rating and $367 target on August 7. The recent pullback indicates near-term consolidation after the sharp run-up on these catalysts.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)