Tower Semiconductor Ltd. (TSEM) Stock Soaring High in Aftermarket. Here’s What’s Happening.

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Tower Semiconductor Ltd. (TSEM) is the leader in high-value analog semiconductor solutions. The company provides technology and manufacturing portfolio for integrated circuits in the consumer market. The company’s broad range of customized process portfolios includes SiGe, BiCMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.


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The price of TSEM stock during regular trading on February 14, 2022, with a 1.98% decline was $33.1. At last check in the aftermarket, the stock soared by 48.05%.

TSEM: Events and Happenings

TSEM updated about multiple events in the March-June period including OFC 2022, APEC 2022, SPIE 2022, and PCIM 2022. On January 18, 2022, TSEM updated about releasing its financial results for the fourth quarter ended December 31, 2021, on February 17, 2022. On December 21, 2021, TSEM and Jupiter Networks reported the pioneer silicon photonics foundry-ready process of the world with integrated III-V lasers, amplifiers modulators, and detectors.

On November 1, 2021, TSEM and Anello Photonics were informed about their entry into a strategic collaboration for a low-loss Silicon Optical Waveguide technology and production process.

TSEM: Key Financials

On November 8, 2021, TSEM released its financial results for the third quarter of 2021 ended September 30, 2021. Some of the key updates are mentioned below.

Revenue

Revenue in Q3 2021 was recorded to be $387 million compared to $310 million in the same quarter of 2020. The company observed an increase of 25% in its revenue over the yearly period which is the highest in the company’s history. The company topped the analysts’ estimated revenue by $1.73 million.

EPS

Basic and diluted net income per share in Q3 2021 was $39 million or $0.36 corresponding to $15 million or $0.14 in the same period of 2020. The company observed a double increase of net income over the yearly period. The company’s EPS beat the analysts’ estimates by $0.04.

On October 13, 2021, TSEM announced that the Executive management provided an overview for its advanced analog tech platforms in the virtual 2021 annual Technical Global Symposium.

Conclusion

TSEM stock is 18% up the past few months. The current stock gain of the company can be attributed to multiple events announced in the upcoming few months period. The company is approaching its quarterly release date and the analysts are estimating the revenue of $410.1 million and EPS of $0.42.

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