Tower Semiconductor (TSEM 2.86%) is making big gains in this week's trading. The Israel-based chip company's share price was up 15.2% from last week's market close as of 3:15 p.m. ET Friday, according to data from S&P Global Market Intelligence.Tower reported its fourth-quarter results before the market opened on Feb. 14. The company posted earnings per share of $0.55 on sales of $351.71 million. Even though sales were down due to weaker demand in the automotive sector, this performance came in ahead of the ...

Financial Data and Key Metrics Changes - The company reported Q4 2023 revenues of $352 million, a decrease from $358 million in the prior quarter, with a gross profit of $84 million compared to $87 million in the previous quarter [56][57] - For the full year, revenues were $1.42 billion, down from $1.68 billion in 2022, with gross profit decreasing to $354 million from $466 million in the prior year [59][60] - The net profit for Q4 was $54 million, while the full year net profit was $518 million, which included a $290 million impact from a merger contract termination fee received from Intel [56][60] Business Line Data and Key Metrics Changes - The company is transitioning from 6-inch to 8-inch operations, which is expected to optimize margins and improve revenue streams, particularly in high-value technologies [40][41] - The RF mobile business is experiencing a rebound, with high utilization rates for both 200 mm and 300 mm RF SOI capacity, and additional capacity expected to come online throughout 2024 and 2025 [45][46] - The power IC business is facing challenges in the 200 mm segment, particularly in automotive applications, but strong demand is noted for 300 mm power management platforms [105] Market Data and Key Metrics Changes - Revenue breakdown by end market shows that power IC business accounted for 24%, RF mobile business for 22%, and automotive for 17% [41][42] - The company is seeing a strong demand rebound in the machine vision market, particularly driven by the Chinese market for factory automation and embedded robotic camera systems [107] Company Strategy and Development Direction - The company is focusing on strategic value-add growth through market expansion and innovation, particularly in RF infrastructure and silicon photonics [53][54] - Partnerships with key customers are being leveraged to enhance technological offerings and operational capabilities, with a strong emphasis on collaboration [54] - The company is investing in capacity expansion and new technologies to meet evolving customer needs and to outpace competition [53][54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about market recovery indicators and renewed demand across key segments, expecting notable quarter-over-quarter growth throughout 2024 [38][52] - The company anticipates that the initial headwinds from new manufacturing activities will be absorbed and become accretive to margins by the first half of 2025 [104] - Management expects revenue growth in 2024 compared to 2023, driven by advancements in AI and mobile technologies [74][78] Other Important Information - The company plans to invest approximately $500 million in capital expenditures for equipment and other items required for its 12-inch factory in Agrate, Italy [63] - The balance sheet as of December 2023 totaled $2.9 billion, with a strong current assets ratio of 6.2x compared to 3.9x at the end of 2022 [62] Q&A Session Summary Question: Impact of transitioning from 6-inch to 8-inch on revenue and margins - Management indicated that the transition will not negatively impact margins and is expected to be beneficial in the coming quarters [3][4] Question: Confidence in near-term order rates and long-term customer demand visibility - Management noted a combination of strong near-term order rates and good long-term visibility, with double-digit growth expected in core businesses [5] Question: Gross margin expectations for the upcoming quarter - Management suggested that the baseline for gross profit should be assumed at 24% from Q4, with adjustments based on revenue changes [21][72] Question: Revenue growth expectations for 2024 compared to 2023 - Management confirmed expectations for revenue growth in 2024 over 2023, driven by strong market demand [74] Question: Plans for cash flow and capital expenditures - Management clarified that cash flow operations are expected to be lower than capital expenditures due to significant investments planned for the year [84][96]

MIGDAL HAEMEK, Israel, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Tower Semiconductor (NASDAQ:TSEM, TASE: TSEM))) reports today its results for the fourth quarter and for the year ended December 31, 2023. Fourth Quarter of 2023 Results Overview Revenue for the fourth quarter of 2023 was $352 million as compared with $358 million for the third quarter of 2023. Revenue for the fourth quarter of 2022 was $403 million. Gross profit for the fourth quarter of 2023 was $84 million as compared with $87 million for the third ...

Exhibit 99.1 Tower Semiconductor Reports 2023 Fourth Quarter and Full Year Financial Results MIGDAL HAEMEK, ISRAEL – February 14, 2024 – Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter and for the year ended December 31, 2023. Fourth Quarter of 2023 Results Overview Revenue for the fourth quarter of 2023 was $352 million as compared with $358 million for the third quarter of 2023. Revenue for the fourth quarter of 2022 was $403 million. Gross profit for the f ...

MIGDAL HAEMEK, Israel – January 24, 2024 – Tower Semiconductor (NASDAQ/ TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, will issue its fourth quarter and fiscal year 2023 earnings release on Wednesday, February 14, 2024. The Company will hold a conference call to discuss its fourth quarter and fiscal year 2023 financial results and first quarter 2024 guidance on Wednesday, February 14, 2024, at 10:30 a.m. Eastern Time (09:30 a.m. Central, 08:30 a.m. Mountain, 07:30 a.m. Pacifi ...

                 The Satcom terrestrial market is expected to grow to 150M users by 2031 according to Euroconsult with the expansion of global satellite-based internet services MIGDAL HAEMEK, Israel, January 16, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), the leader in high-value analog semiconductor foundry solutions, today announced a collaboration with Renesas, leveraging Tower's high-volume and high-performance SiGe BiCMOS technology to manufacture SiGe-based beamforming ICs. This strategic collabor ...

zorazhuang Investment Rundown One of the hardest hit sectors when the interest rates began to increase last year was the tech sector. Looking at the stock chart for Tower Semiconductor Ltd (NASDAQ:TSEM), I think we are looking at a very appealing opportunity right now for investing. The valuation has come down to what I think is a pretty low level, a FWD p/e of just 14. In the last 5 years, the company has averaged a far higher multiple, which might be because of the very rapid bottom line growth the compan ...

manassanant pamai Trotting Not Sprinting We join the small chorus of Seeking Alpha, Wall Street analysts, and the Seeking Alpha Quant Rating who see Israel-based Tower Semiconductor Ltd. (NASDAQ:TSEM) as a potential Buy opportunity for retail value investors. Patience and some risk tolerance are necessary. We expect the share price to hover around $29 each through the next several quarters. The chip industry is awash in an oversupply of inventories and the global economic GDP is in a deceleration mode for n ...

MIGDAL HAEMEK, Israel, Jan. 02, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), the leader in high-value analog semiconductor foundry solutions, ), the leading foundry of high-value analog semiconductor solutions, updates following the recent earthquake in Ishikawa Prefecture in Japan, the neighboring Prefecture to where its two Japanese manufacturing facilities are located. The Company expresses relief and gratitude as it reports that all employees are safe. Prioritizing the well-being of its team, Tower r ...

Tower Semiconductor Ltd. (NASDAQ:TSEM) Q3 2023 Earnings Conference Call November 13, 2023 10:00 AM ET Company Participants Russell Ellwanger - Chief Executive Officer Oren Shirazi - Chief Financial Officer Noit Levy - SVP of Investor Relations and Corporate Communications Conference Call Participants Cody Acree - Loop Capital Richard Shannon - Craig Hallum Natalia Winkler - Jefferies Operator Ladies and gentlemen, thank you for standing by. Welcome to the Tower Semiconductor Third Quarter 2023 Financial Re ...