Tower Semiconductor Ltd. (USA) (TSEM) Releases Earnings Results, Misses Expectations By $-0.33 EPS

Tower Semiconductor Ltd. (USA) (TSEM) reported quarterly earnings results on Monday, May-9-2016. The company reported $0.34 earnings per share for the quarter, missing the analyst consensus estimate by $-0.33. Analysts had a consensus of $0.67. The company posted revenue of $278.00 million in the period, compared to analysts expectations of $275.95 million. The company’s revenue was up 22.9% compared to the same quarter last year.

Tower Semiconductor Ltd. (USA) opened for trading at $11.61 and hit $11.8089 on the upside on Friday, eventually ending the session at $11.76, with a gain of 1.73% or 0.2 points. The heightened volatility saw the trading volume jump to 3,72,167 shares. Company has a market cap of $906 M.

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. It manufactures semiconductors for its customers primarily based on third-party designs. It offers the process manufacture geometries of 0.35 0.50 0.55 0.60 0.80-micron and above on 150 millimeter wafers and 0.35 0.18. 0.16 0.13 and 0.11-micron on 200 millimeter wafers and 65 nanometer and 45 nanometer on 300 millimeter wafers. It also provides design support and complementary technical services. Its ICs are incorporated into a range of products in markets including consumer electronics personal computers communications automotive industrial and medical device products.

Tower Semiconductor Ltd. (USA)

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