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  • Tower Semiconductor Ltd TSEM reported third-quarter FY22 revenue growth of 10% year-on-year to $427.1 million, marginally missing the consensus of $427.33 million. It posted a 22% organic growth.
  • The gross profit was $125 million, up 46% Y/Y.
  • The operating profit grew 79% Y/Y to $79 million. 
  • It generated $122 million in operating cash flow and held $901.1 million in cash and equivalents.
  • EPS of $0.62 beat the consensus of $0.61.
  • On February 15, Intel Corp INTC agreed to acquire Tower Semiconductor at a 60% premium.
  • Due to its impending acquisition, Tower Semiconductor stopped providing financial guidance.
  • Price Action: TSEM shares traded flat at $41.07 on the last check Tuesday.

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