Why Tower Semiconductor Soared in May

Shares of specialty semiconductor foundry Tower Semiconductor (NASDAQ: TSEM) rallied 15.5% in May, according to data from S&P Global Market Intelligence.Tower delivered strong first-quarter earnings on May 13, and also disclosed that it had received significant orders out to 2028, with customers even pre-paying to secure capacity for Tower's leading silicon photonics technology.In the first quarter, Tower posted revenue growth of 15.6% to $414 million, with adjusted (non-GAAP) earnings per share growing 62.9% to $0.57 per share. Both figures beat analysts' expectations. Management also guided to a very strong $455 million in revenue for the current quarter, good for about 10% sequential growth and well ahead of the $436.4 million analyst consensus. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool