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semiconductor / news / / MarketScreener

The company now forecasts quarterly revenue of $455m, compared to the $436.4m expected by analysts.

Tower Semiconductor signed new silicon photonics contracts worth $1.3bn revenue by 2027.

KEY POINTS
The company now forecasts quarterly revenue of $455m, compared to the $436.4m expected by analysts according to LSEG. Tower Semiconductor also announced several agreements in the field of silicon photonics, a technology that enables ultra-high-speed data transmission via light within AI data centers. These contracts are expected to generate approximately $1.3bn in revenue by 2027. The group has already received $290m in customer prepayments to secure production capacity. CEO Russell Ellwanger saif that Tower remains confident in its target of reaching $2.8bn in annual revenue and $750m in net profit by 2028. In Q1, the group's revenue grew by 15% to $414m, slightly above market expectations, while adjusted EPS reached 65 cents against the 56 cents expected. Tower Semiconductor also remains embroiled in a legal dispute with GlobalFoundries, which has accused it since March of infringing several patents related to chip manufacturing for smartphones and electronic devices.
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