On October 6, Tower Semiconductor rose 5.5% in regular trading, trading at $264.27 per share, with turnover of $49.19 million. The advance follows a series of positive catalysts, most recently Barclays initiating coverage with an Overweight rating and a $310 price target, alongside the start of high-volume AI optical engine chip shipments.

The company and NewPhotonics have begun volume shipments of laser-integrated optical engine photonic integrated circuits for AI infrastructure. The first products support 800G to 1.6T data rates, with 6.4T chipset volume shipments planned for the first half of 2027. Earlier, BofA Global Research initiated coverage with a Buy rating and a $367 price target. Second-quarter adjusted EPS of $0.88 beat estimates by $0.12, while third-quarter revenue guidance of about $520 million also exceeded consensus expectations.

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