Mizuho Securities initiated coverage of Tower Semiconductor on September 25 with an Outperform rating and a $300 price target, just days after Barclays launched its own coverage with a $310 price target. The specialty chipmaker began high-volume shipments of laser-integrated photonic integrated circuits developed with NewPhotonics on September 17, supporting data rates from 800G to 1.6T with a roadmap to 6.4T by the first half of 2027. Tower has secured $1.3 billion in silicon photonics revenue commitments for 2027, including $290 million already paid by customers in the form of prepayments. The company also announced in July a multi-billion-dollar facility expansion in Japan for silicon photonics and silicon-germanium manufacturing platforms.
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