Tower Semiconductor ( TSEM ) reported better-than-expected fiscal third-quarter results on Monday.

The company reported quarterly revenue growth of 6.8% year over year (Y/Y) to $395.67 million, beating the analyst consensus estimate of $393.98 million. The Israel-based contract chipmaker’s adjusted EPS of 55 cents beat the analyst consensus estimate of 54 cents.

Tower Semiconductor ( TSEM ) CEO Russell Ellwanger said the company’s core technologies—power management, image sensors, and 65nm RF mobile—are all generating year-over-year revenue growth, creating a strong foundation for expansion. He emphasized that Tower’s leadership in SiGe and SiPho technologies for optical transceivers, coupled with surging data center demand, is driving both top- and bottom-line growth.

Tower Semiconductor ( TSEM ) expects fourth-quarter revenue of $418.00 million-$462.00 million compared to the $434.35 million analyst consensus estimate.

Tower Semiconductor ( TSEM ) shares gained 0.3% to trade at $98.40 on Tuesday.

These analysts made changes to their price targets on Tower Semiconductor ( TSEM ) following earnings announcement.

Benchmark analyst Cody Acree maintained Tower Semiconductor ( TSEM ) with a Buy and raised the price target from $73 to $120.

Susquehanna analyst Medhi Hosseini maintained the stock with a Positive and raised the price target from $100 to $135.

Wedbush analyst Matt Bryson maintained Tower Semiconductor ( TSEM ) with an Outperform rating and raised the price target from $85 to $125.

Barclays analyst Tavy Rosner maintained the stock with an Equal-Weight rating and raised the price target from $74 to $97.

Considering buying TSEM stock? Here’s what analysts think:

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