From Yahoo Finance: 2025-05-14 09:36:00

Tower Semiconductor, a contract chipmaker, predicts second-quarter revenue above expectations due to high demand for wireless communication and power management chips. The Israel-based company specializes in analog and mixed-signal semiconductor manufacturing, serving industries like automotive, industrial, consumer electronics, and communications. Despite volatile demand in the automotive sector, Tower Semiconductor benefits from increased demand in other markets. Record revenue from radio frequency infrastructure technologies contributes to the positive outlook. The company forecasts second-quarter revenue of $372 million, slightly surpassing analysts’ estimates, and anticipates sequential revenue growth throughout the year. Tower Semiconductor has expanded its capacity in Agrate, Italy, leading to increased costs but still reported an adjusted profit of 45 cents per share in the first quarter, beating expectations. U.S.-listed shares of the company dipped about 1% in premarket trading.

Read more: Tower Semiconductor forecasts quarterly revenue above estimates on steady wireless chip demand