Tower, Camtek and Nova Shares Fall in U.S. Chip Selloff

Tower, Camtek and Nova shares fell in U.S. trading on Friday, October 30, as semiconductor stocks declined across the market. In an intraday snapshot, Tower was down 14.1% at $161.40, Camtek had lost 9.8% to $114.20, and Nova was down 8.2% at $307.10. The figures describe trading during the session, rather than final closing prices. The declines in the three Israeli chip companies coincided with an 8.5% fall in the semiconductor index. The Nasdaq Composite was down 3.3%, while the S&P 500 had lost 2.1% and the Dow Jones Industrial Average was down 1.1%. Mobileye shares also fell, losing 9.9% in the same intraday report. Tower, which trades on Nasdaq and the Tel Aviv Stock Exchange under the ticker TSEM, is an analog-chip foundry. The company describes a manufacturing network that includes a 200-millimeter facility in Israel and two in the United States, alongside operations in Japan and a shared 300-millimeter facility in Agrate, Italy. The next scheduled financial update from Tower is its third-quarter results on Monday, November 2. In its October 13 announcement, the company said a conference call would discuss those results and fourth-quarter guidance at 10 a.m. Eastern time, or 5 p.m. in Israel. The webcast will be available through its investor-relations website, with a replay available for 90 days.