Tower Gains Most in 3 Weeks on Device Development With RedCat

Tower Semiconductor Ltd. (TSEM), a maker of customized chips, advanced the most in almost three weeks after the company said it developed radiation-hard integrated circuits with Italy’s RedCat Devices.

The shares rose 2.8 percent, poised for the biggest gain since June 6, to 2.91 shekels, at 12:25 p.m. in Tel Aviv.

For Tower, the technology opens new markets which require components that withstand high doses of radiation, including medical devices, it said in a statement today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.