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Tower Semiconductor Ltd. reports developments tied to its role as a pure-play specialty foundry for high-value analog semiconductor solutions. The company provides technology, development and process platforms for IDMs and fabless companies across consumer, industrial, automotive, mobile, infrastructure, medical, aerospace and defense markets.
Recurring updates cover analog and specialty process platforms including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS and non-imaging sensors, displays, integrated power management, silicon photonics and MEMS. Company announcements also address customer and partner demonstrations, aerospace and defense foundry applications, AI infrastructure and optical networking technologies, quarterly financial results, conference participation, and the multi-fab manufacturing footprint in Israel, the United States, Japan and Italy.
Tower Semiconductor (NASDAQ/TASE: TSEM) has announced its 2024 Technical Global Symposium (TGS), focusing on analog technology innovations. The events will be held in-person in the USA and China, exploring the theme 'Empowering the Future: Analog Technology Innovations Shaping Our World'. Key topics include AI's impact on industries, technology megatrends, and Tower's solutions in connectivity, power applications, and digital imaging.
The symposium will feature a keynote by CEO Russell Ellwanger and in-depth sessions on Tower's RF SOI, SiGe, SiPho, power management, imaging, and display technologies. Industry leaders Innolight and Nvidia will present on optical communication and AI innovations. The events offer networking opportunities and are scheduled for September 24, 2024, in Shanghai and November 20, 2024, in Santa Clara, California.
Tower Semiconductor (NASDAQ: TSEM) reported its Q2 2024 financial results, showing revenue of $351 million, up from $327 million in Q1 2024. Gross profit increased to $87 million from $73 million in Q1. Net profit rose to $53 million ($0.48 per share), compared to $45 million ($0.40 per share) in Q1. The company generated $113 million in operating cash flow and invested $113 million in equipment and fixed assets. Tower Semiconductor guides Q3 2024 revenue to be $370 million (±5%), reflecting year-over-year and quarter-over-quarter growth. CEO Russell Ellwanger highlighted strong performance in mobile, advanced Power platforms, and expanding demand in the optical space, particularly for AI applications.
Tower Semiconductor, a leading foundry for high-value analog semiconductor solutions, will release its second quarter 2024 earnings on July 24, 2024. The company has scheduled a conference call on the same day at 10:00 a.m. Eastern Time to discuss its financial results and provide guidance for the third quarter of 2024.
The call will be webcasted and accessible via the Investor Relations section on Tower Semiconductor's website. Additionally, the call can be accessed through various toll-free and international phone numbers. A replay of the teleconference will be available for 90 days.
Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reported revenue of $327 million for Q1 2024, a decline from $352 million in Q4 2023. Gross profit was $73 million, down from $84 million. Operating profit was $34 million, compared to $45 million. Net profit was $45 million, with basic EPS of $0.40. The company guides revenue for Q2 2024 at $350 million. Standard & Poor’s Maalot reaffirmed Tower Semiconductor’s corporate credit rating as “ilAA“/ stable. Cash flow from operating activities was $110 million.
Tower Semiconductor, a leading foundry of analog semiconductor solutions, will attend the 52nd Annual TD Cowen Technology, Media & Telecom Conference in New York. President Dr. Marco Racanelli will be present, offering investors a chance for one-on-one meetings with management.
Tower Semiconductor (TSEM) will participate in the 52nd Annual JP Morgan Global Technology, Media, and Communications Conference. CEO Russell Ellwanger will engage in a fireside chat on May 20th. Investors can access the webcast on Tower Semiconductor's website.
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