India, July 14 -- Tower Semiconductor Ltd. (TSEM) shares surged 10.90 percent, gaining $25.03 to trade at $254.71 on Tuesday, after the company announced a dual-track strategic expansion of its 300mm Silicon Photonics, Silicon Germanium (SiGe) and advanced packaging capabilities in Japan, supported by the Japanese government.
The stock opened at $271.01 and traded between $252.01 and $274.00 during the session on the Nasdaq. It has traded in a 52-week range of $43.12 to $319.94. Trading volume reached 2.02 million shares, compared with an average daily volume of 2.17 million shares.
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The company said the expansion will significantly increase manufacturing...