Wedbush Lifts PT on Tower Semiconductor Ltd. (TSEM), Sees Q1 Commentary as Positive

The standing update came aft Tower Semiconductor Ltd. (NASDAQ:TSEM) announced connected May 13 the signing of Silicon Photonics (SiPho) contracts for $1.3 cardinal for 2027 gross with its largest customers, on with the receipt of $290 cardinal successful customers’ prepayments for capableness reservation. Management stated that the archetypal committedness is further reinforced by an adjacent larger contractual wafer committedness for 2028, with further associated prepayments owed by January 2027. It besides stated that the semipermanent agreements bolster the company’s strategical presumption successful the rapidly expanding optical connectivity market.

Tower Semiconductor Ltd. (NASDAQ:TSEM) provides semiconductor solutions. The company’s offerings besides see exertion and manufacturing platforms for integrated circuits (ICs) successful increasing markets, specified arsenic automotive, consumer, industrial, medical, mobile, infrastructure, and aerospace and defense.

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