On June 1, Tower Semiconductor declined 5.02% in regular trading, trading at $245.04/share, with trading volume of $221 million.

On the news front, market rumors previously circulated that the company's Fab 9 factory experienced process parameter deviations during 1.6T silicon photonics chip tape-out, with partial batch yields falling below expectations. Although core customer InnoLight issued a formal statement on May 30 characterizing the rumor as maliciously fabricated false information intended to manipulate stock prices, and Tower responded that process tuning is industry standard practice without impacting long-term client relationships or expansion plans, the shock to market confidence remains in the digestion phase.

Additionally, the stock had previously surged to a 52-week high of $302.86, driven by a $1.3 billion silicon photonics supply contract and multiple analyst upgrades — including Wedbush raising its target from $140 to $300. The stock has now retreated over 19% from that peak, with persistent profit-taking pressure exacerbating the correction.

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