Why Tower Semiconductor Fell This Week
Shares of Tower Semiconductor (NASDAQ: TSEM) fell 11.3% this week through Thursday trading, according to data from S&P Global Market Intelligence.
Tower fell this week after it announced its pending acquisition by (NASDAQ: INTC) would be terminated, as neither party had received approval from Chinese authorities by the Aug. 15 termination date.
Despite Tower being set to receive a $353 million termination fee, the stock fell back to earth anyway, as Intel had offered the company a lofty $54 per share acquisition price -- a substantial premium over where Tower was trading before the February 2022 offer.
Source Fool.com
Intel Corp. Stock
€78.19
-0.780%
Our community is currently high on Intel Corp. with 47 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 78.19 € for Intel Corp., so the potential is actually -5.36%.
