TSEM vs. MU

Last updated Jun 3, 2026

TSEM (Tower Semiconductor Ltd) and MU (Micron Technology, Inc.) are both stocks. Both operate in the Semiconductors industry within the Technology sector. Over the past 10 years, TSEM returned 35.62%/yr vs 55.91%/yr for MU. At a 0.31 correlation, their price movements are largely independent.

Performance

TSEM vs. MU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tower Semiconductor Ltd (TSEM) and Micron Technology, Inc. (MU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSEM achieves a 133.96% return, which is significantly lower than MU's 272.99% return. Over the past 10 years, TSEM has underperformed MU with an annualized return of 35.62%, while MU has yielded a comparatively higher 55.91% annualized return.

TSEM

• 1D: 8.78%
• 1M: 26.01%
• YTD: 133.96%
• 6M: 135.88%
• 1Y: 582.17%
• 3Y*: 92.75%
• 5Y*: 59.78%
• 10Y*: 35.62%

MU

• 1D: 2.76%
• 1M: 96.25%
• YTD: 272.99%
• 6M: 344.69%
• 1Y: 986.42%
• 3Y*: 149.77%
• 5Y*: 67.79%
• 10Y*: 55.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TSEM vs. MU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TSEM Tower Semiconductor Ltd	133.96%	127.96%	68.77%	-29.35%	8.87%	53.68%	7.32%	63.23%	-56.75%	79.09%
MU Micron Technology, Inc.	272.99%	240.24%	-0.96%	71.93%	-45.93%	24.21%	39.79%	69.49%	-22.84%	87.59%

Correlation

The correlation between TSEM and MU is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994	0.31

The correlation between TSEM and MU shifts across timeframes, from 0.31 (all time) to 0.50 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap TSEM : $31.41B MU : $1.21T
EPS TSEM : $2.15 MU : $21.26
PE Ratio TSEM : 127.52 MU : 50.06
PEG Ratio TSEM : 4.50 MU : 0.19
PS Ratio TSEM : 19.29 MU : 20.77
PB Ratio TSEM : 10.56 MU : 16.74
Total Revenue (TTM) TSEM : $1.62B MU : $58.12B
Gross Profit (TTM) TSEM : $401.63M MU : $33.96B
EBITDA (TTM) TSEM : $571.93M MU : $25.99B

Return for Risk

TSEM vs. MU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSEM

TSEM Risk / Return Rank: 99
TSEM Sharpe Ratio Rank: 100
TSEM Sortino Ratio Rank: 99
TSEM Omega Ratio Rank: 98
TSEM Calmar Ratio Rank: 99
TSEM Martin Ratio Rank: 100

MU

MU Risk / Return Rank: 99
MU Sharpe Ratio Rank: 100
MU Sortino Ratio Rank: 99
MU Omega Ratio Rank: 98
MU Calmar Ratio Rank: 100
MU Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TSEM vs. MU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tower Semiconductor Ltd (TSEM) and Micron Technology, Inc. (MU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TSEM	MU	Difference
Sharpe ratio Return per unit of total volatility	8.77	15.10	-6.34
Sortino ratio Return per unit of downside risk	6.10	7.40	-1.30
Omega ratio Gain probability vs. loss probability	1.79	1.95	-0.16
Calmar ratio Return relative to maximum drawdown	23.82	33.99	-10.17
Martin ratio Return relative to average drawdown	87.95	134.69	-46.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSEM vs. MU - Sharpe Ratio Comparison

The current TSEM Sharpe Ratio is 8.77, which is lower than the MU Sharpe Ratio of 15.10. The chart below compares the historical Sharpe Ratios of TSEM and MU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSEM	MU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.77	15.10	-6.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.29	1.30	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	1.13	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.31	-0.29

Drawdowns

TSEM vs. MU - Drawdown Comparison

The maximum TSEM drawdown since its inception was -99.75%, roughly equal to the maximum MU drawdown of -98.25%. Use the drawdown chart below to compare losses from any high point for TSEM and MU.

Drawdown Indicators

	TSEM	MU	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-98.25%	-1.50%
Max Drawdown (1Y) Largest decline over 1 year	-25.04%	-30.28%	+5.24%
Max Drawdown (3Y) Largest decline over 3 years	-46.78%	-57.63%	+10.85%
Max Drawdown (5Y) Largest decline over 5 years	-55.39%	-57.63%	+2.24%
Max Drawdown (10Y) Largest decline over 10 years	-62.28%	-57.63%	-4.65%
Current Drawdown Current decline from peak	-54.08%	0.00%	-54.08%
Average Drawdown Average peak-to-trough decline	-85.42%	-58.21%	-27.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.78%	7.64%	-0.86%

Volatility

TSEM vs. MU - Volatility Comparison

Tower Semiconductor Ltd (TSEM) and Micron Technology, Inc. (MU) have volatilities of 29.78% and 28.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSEM	MU	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.78%	28.63%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	53.68%	53.49%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	67.03%	66.06%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.79%	52.32%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.33%	49.66%	-6.33%

Dividends

TSEM vs. MU - Dividend Comparison

TSEM has not paid dividends to shareholders, while MU's dividend yield for the trailing twelve months is around 0.05%.

Position	TTM	2025	2024	2023	2022	2021
MU Micron Technology, Inc.	0.05%	0.16%	0.55%	0.54%	0.89%	0.21%
TSEM Tower Semiconductor Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

TSEM vs. MU - Profitability Comparison

The chart below illustrates the profitability comparison between Tower Semiconductor Ltd and Micron Technology, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TSEM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tower Semiconductor Ltd reported a gross profit of 110.95M and revenue of 413.63M. Therefore, the gross margin over that period was 26.8%.

MU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Micron Technology, Inc. reported a gross profit of 17.75B and revenue of 23.86B. Therefore, the gross margin over that period was 74.4%.

TSEM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tower Semiconductor Ltd reported an operating income of 64.57M and revenue of 413.63M, resulting in an operating margin of 15.6%.

MU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Micron Technology, Inc. reported an operating income of 16.13B and revenue of 23.86B, resulting in an operating margin of 67.6%.

TSEM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tower Semiconductor Ltd reported a net income of 65.03M and revenue of 413.63M, resulting in a net margin of 15.7%.

MU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Micron Technology, Inc. reported a net income of 13.79B and revenue of 23.86B, resulting in a net margin of 57.8%.

Frequently Asked Questions

Can I hold both TSEM and MU in my portfolio?

TSEM and MU have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSEM or MU?

TSEM has higher volatility (29.78%) compared to MU (28.63%). In terms of maximum drawdown, TSEM dropped -99.75% vs MU's -98.25%.

Which has better risk-adjusted returns?

MU currently has the higher Sharpe Ratio (15.10 vs 8.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.