BlackRock Reports 6.8% Passive Stake In Tower Semiconductor, 7.77 Million Shares
BlackRock says it holds the shares in the ordinary course of business, with sole voting power over 7,403,987 of them.
BlackRock units hold 7,766,463 shares of Tower Semiconductor, or 6.8% of the class, according to a passive ownership disclosure filed with the SEC on Tuesday. Tower is a specialty chip foundry that makes wafers to its customers' designs.
A passive position, by BlackRock's certification
BlackRock certified that the shares were acquired and are held in the ordinary course of business. It said they are not held to change or influence control of Tower, which is why the stake is filed as passive.
The filing lists September 30, 2026 as the date of the event that triggered it.
Who holds the votes
BlackRock reported sole voting power over 7,403,987 of the shares and no shared voting power. It holds sole power to dispose of all 7,766,463.
The filing says various persons have the right to receive dividends or sale proceeds from the stock, and that no single person's interest exceeds 5% of Tower's outstanding common shares.
The stake is spread across BlackRock business units, which an exhibit lists. They include BlackRock Fund Advisors, BlackRock Institutional Trust Company and BlackRock Investment Management.
The foundry behind the stake
Tower, based in Migdal Haemek, Israel, sells no products of its own. Its specialized processes include silicon photonics, silicon-germanium, radio frequency, power management and image sensors. Its chips end up in smartphones, data centers, automotive, industrial and medical devices.
For the year ended December 31, 2025, 11% of Tower's revenue came from NTCJ and 39% from seven other customers. The United States accounted for 42% of revenue and Asia excluding Japan for 39%. Tower's market value was $20.3 billion as of Tuesday.
BlackRock's filing puts its sole voting power at 7,403,987 shares, on a stake it describes as held with no aim of influencing Tower's control.
Sources
- SCHEDULE 13G — BlackRock, Inc. re: TOWER SEMICONDUCTOR LTD (TSEM) — SEC EDGAR
- SCHEDULE 13G Exhibit 99 — EXHIBIT 99: ITEM 7 — SEC EDGAR
- Mergers & Acquisitions : Law360 : Legal News & Analysis — law360.com
