Global Finance News
25 Sep 2026, 18:33
Tower Semiconductor Jumps 6% as Mizuho Starts Coverage With Outperform Rating
Tower Semiconductor (NASDAQ: TSEM) shares rose about 6.4% after Mizuho initiated coverage with an Outperform rating and a $300 price target.
Analyst Vijay Rakesh highlighted Tower’s strong position in silicon photonics, a technology increasingly important for high-speed optical connectivity inside AI data centers. Mizuho expects the silicon photonics foundry market to grow from about $1.3 billion in 2025 to $8.5 billion by 2029, while forecasting Tower’s related revenue to expand even faster, reaching roughly $3.8 billion by 2029. The firm also pointed to Tower’s heterogeneous packaging technology and estimated that the company could hold more than 40% market share in 2026. Mizuho further expects total revenue to reach about $4.9 billion by 2029, gross margin to approach 50%, EPS to rise to $16.51 and free cash flow to reach about $1.8 billion. (Investing*com)
Tower shares were trading around $231.16, up roughly 6.4%, with Mizuho’s $300 target implying additional upside from current levels.
Tower Semiconductor (NASDAQ: TSEM) shares rose about 6.4% after Mizuho initiated coverage with an Outperform rating and a $300 price target.
Analyst Vijay Rakesh highlighted Tower’s strong position in silicon photonics, a technology increasingly important for high-speed optical connectivity inside AI data centers. Mizuho expects the silicon photonics foundry market to grow from about $1.3 billion in 2025 to $8.5 billion by 2029, while forecasting Tower’s related revenue to expand even faster, reaching roughly $3.8 billion by 2029. The firm also pointed to Tower’s heterogeneous packaging technology and estimated that the company could hold more than 40% market share in 2026. Mizuho further expects total revenue to reach about $4.9 billion by 2029, gross margin to approach 50%, EPS to rise to $16.51 and free cash flow to reach about $1.8 billion. (Investing*com)
Tower shares were trading around $231.16, up roughly 6.4%, with Mizuho’s $300 target implying additional upside from current levels.
