On August 4, Tower Semiconductor released its Q2 financial results before market open. Leading into the report, Wedbush analysts projected a \"beat and raise quarter,\" expecting Q2 revenue to come in at or modestly above the midpoint of the company's $455 million guidance. The firm noted Tower Semiconductor has met or exceeded its revenue guidance midpoint for eight consecutive quarters. Market consensus expected Q2 revenue growth of 22.35% year-over-year and adjusted EPS growth of 67.70% year-over-year. Wedbush highlighted that silicon photonics capacity qualified during Q1 would contribute more fully in Q2, and modeled Q3 adjusted EPS of $0.92 with revenue of $490.7 million.

The stock had previously pulled back from approximately $223 to $210 amid a broader semiconductor sector selloff ahead of the earnings release. The pre-market surge represents a sharp reversal driven by earnings catalysts and positive institutional expectations.

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