On August 6, Tower Semiconductor rose 5.67% in regular trading, trading at $225.4/share, with turnover of $89.53 million. The stock rebounded after two consecutive sessions of profit-taking that had pulled shares down to around $228 from a pre-market high near $247.

The rebound is supported by the company's strong Q2 earnings released on August 4. Tower Semiconductor posted adjusted EPS of $0.88, significantly beating the $0.76 consensus estimate, while revenue of $460 million topped the $454.68 million expectation. Q3 revenue guidance of approximately $520 million also far exceeded the Street estimate of $490 million. Notably, the silicon photonics business emerged as a key growth driver, with annualized revenue surging from $180 million a year ago to $680 million, fueled by robust AI computing demand for optical interconnects. Wedbush had previously highlighted the company's consistent track record of meeting or exceeding guidance for eight consecutive quarters.

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