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March 11, 2013
13:42 EDTTSEMTower Semi jumps after announcing radio platform design wins
Tower Semiconductor (TSEM) is surging after the company earlier today announced that its subsidiary, TowerJazz, had obtained over 50 design wins with its Silicon Radio Platform for smartphones and other mobile systems. The platform is utilized in the Front-End Module, or FEM, market, which is expected to double to $10B by 2017, TowerJazz stated. Tower is gaining significant market share in the FEM, and its platform allows integration of the radio in mobile devices including components such as antenna switches, antenna tuners, diversity switches, controllers, low-noise-amplifiers and power amplifiers, eliminating the need for expensive discrete GaAs, according to the company. In mid-afternoon trading, tower's stock rallied 58c, or 9%, to $7.05.
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