Israel’s chipmaker Tower Symiconductor Ltd. (NASDAQ: Climate;; Level:Climate) Its collaboration ends with Adani in a Chip Fab in India. By the end of April, the “Reuters” reported that Anani stopped talking teers to build a chop chop plant.
In the conference call last week the tower was published in the first quarter results, CEO Russell Ellwaser has noted that it is not perfect, and it prevents the project, and has left cooperation in 5-6 months ago. According to Ellaner, the tower has good reasons for withdrawing from the project, but it is not explained, due to confidentiality agreements. In any case, he emphasized that the tower has not published any report about this matter, because it has never been an official agreement.
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Tower investors have not been trapped in progress, and because the “Reuters” reported, the price of the company raised 14.5% after the increase in Wednesdays (despite a decrease Friday).
The tower reported the first quarter of $ 358 million, 9% from the corresponding quarter of $ 50 million, the net-goet net of $ 50.5 million, reflecting the earnings of $ 0.45. In the second quarter of 2025, the tower saw the income of $ 372 million, 6% from the corresponding quarter of 2024.
In response to financial report, OppenHeimer is on a “outperform” recommendation for stock, with a target price of $ 60 – a premium of 46%. According to the Oppenheimer, the tower stock is free of charge, which is not sufficiently reflects the growth potential, and an interesting investment opportunity.
Published in Globes, Israel News in News – en.globes.co.il – On May 18, 2025.
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