Key Highlights

  • Tower Semiconductor (NASDAQ:TSEM) was trading down 7.66% at USD 145.76 on Friday, November 13, 2026, implying a prior close near USD 157.85 (calculated), against USD 178.75 at the October 26, 2026 close in market data.
  • Third-quarter revenue, reported November 2, 2026, was USD 526.2 million, up 33% from USD 395.7 million, with adjusted Earnings of USD 1.05 a share against a USD 1.06 forecast.
  • Fourth-quarter Revenue guidance is about USD 600 million, plus or minus 5%, against a USD 579.7 million consensus cited in published coverage.
  • The company targets an annualized silicon photonics run rate near USD 1.1 billion in the fourth quarter, roughly five times its 2025 full-year silicon photonics revenue.

Record Results Meet a 7.66% Decline

Tower Semiconductor (NASDAQ:TSEM) was trading down 7.66% at USD 145.76 on Friday, November 13, 2026, in market data. No company announcement explaining the move was found among items dated November 11 to 13, so the change is the figure of record only for the live session. The company reported record third-quarter results on November 2, 2026. Revenue of USD 526.2 million was slightly above a USD 522.1 million consensus, while adjusted earnings of USD 1.05 a share narrowly missed the USD 1.06 forecast, per published coverage. The release headline also pointed to a record fourth-quarter guide that would take 2026 revenue to about USD 2 billion.

Silicon Photonics Drives the Growth Plan

Tower is a specialty analog foundry that makes chips for customers, and it is also listed in Tel Aviv. Gross Profit was USD 178.8 million, up about 92% from a year earlier, operating profit excluding non-recurring items was USD 127.1 million against USD 50.6 million a year earlier, and adjusted net profit was USD 131.3 million. Management described the strongest growth phase in its history and aims for a silicon photonics run rate near USD 1.1 billion in the fourth quarter. Operating Cash Flow was USD 185.2 million, while property and equipment Investment was USD 190.7 million, so Capital spending absorbed the cash generated.

A Stock Far Below Its High Despite the Guide

Market data showed a 52-week range of USD 77.04 to USD 319.94, so USD 145.76 is about 54% below the high (calculated). Shares rose about 4.5% in premarket trading on November 2, but that gain applies only to that early session and the stock has since fallen. A broad AI-stock selloff on November 5, 2026 took the S&P 500 down 4.4% and Nvidia down 9.3%, and a rebound followed on November 9; no verified driver for November 12 to 13 was found. Risks include customer concentration in AI optics, heavy capital spending, a narrow earnings miss and a rich multiple, which market data placed near 70 times trailing earnings on October 26. Market data also noted an expanded multi-year silicon-germanium Partnership with Semtech around October 12 to 13 for Data Center analog connectivity, and the start of high-volume shipments of laser-integrated optical engine chips around September 17.

Where Things Stand

A guide above consensus does not shield a stock from a sector-wide reset, and nothing company-specific explains today's 7.66% decline. Tower Semiconductor (NASDAQ:TSEM) reported record revenue, a record fourth-quarter guide and a rising silicon photonics plan, but its shares remain well below their 52-week high and have traded with other AI hardware names. The next markers are delivery of the roughly USD 600 million quarter, photonics capacity and the cash cost of expansion.