In a recent SEC filing, Tower Semiconductor (NASDAQ:TSEM) Ltd. announced that it will conduct its Annual General Meeting of Shareholders on July 31, 2024. The meeting is scheduled to take place at 3 p.m. Israel time at the company's headquarters in Migdal Haemek, Israel.
The semiconductor manufacturer, which specializes in the production of integrated circuits, disclosed that the upcoming meeting's agenda and proxy materials would be distributed to shareholders around June 25, 2023. Shareholders of record will receive a Notice of Annual General Meeting, a Proxy Statement, and a Proxy Card, which are essential documents for participating in the corporate governance process.
In other recent news, Advanced Energy Industries (NASDAQ:AEIS) has been the subject of an analyst upgrade by Citi, which increased the company's stock target from $107 to $113. This change was influenced by Advanced Energy's sales and earnings per share (EPS) figures for the March quarter, which fell short of their own guidance by 6% and 17% respectively. The company's EPS forecast for the June quarter, however, is slightly more optimistic, expecting a 1% improvement over consensus estimates.
Advanced Energy has also reported a significant increase in orders within the data center computing sector, driven by escalated investments in hyperscale AI. The company anticipates this surge to fuel growth in the June quarter and throughout the remainder of the year. Citi has revised its EPS estimates for the fiscal years 2024 and 2025, decreasing them by 17 cents and 2 cents respectively.
In a recent earnings call, Advanced Energy revealed its first-quarter earnings for 2024, meeting its gross margin target and reporting earnings within the expected range. The company anticipates a stronger performance in upcoming quarters, buoyed by a rebound in the data center computing market and growth in the semiconductor, industrial, and medical sectors.
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