Shares of Tower Semiconductor (NASDAQ:TSEM) rose 6.8% in pre-market trading after the company reported Q1 results.
Earnings per share fell 31.03% year over year to $0.20, which beat the estimate of $0.19.
Revenue of $300,171,000 less by 3.20% from the same period last year, which beat the estimate of $297,570,000.
Tower Semiconductor expects Q2 sales of $310 million.
Conference Call Details
Date: May 13, 2020
Time: 08:18 PM ET
Webcast URL: https://edge.media-server.com/mmc/p/8am222mv
Company's 52-week high was at $25.80
52-week low: $12.13
Price action over last quarter: down 5.49%
Tower Semiconductor Ltd is a pure-play specialty foundry that manufactures semiconductors. As a pure-play foundry, it focuses on producing integrated circuits (ICs), based on the design specifications of customers. The company's line of integrated circuits is incorporated into a variety of products and markets, including consumer electronics, personal computers, communications, automotive, and industrial and medical device products. Tower produces ICs alongside wholly-owned subsidiaries through fabrication facilities located in Japan. As a complement to its technology offerings, Tower offers services that enable a quick and accurate design cycle. To further assist customers with design and technical support, an integrated team helps clients through the manufacturing cycle.