Tower Semiconductor Clocks 19% Revenue Growth In Q4

• Tower Semiconductor Ltd (NASDAQ:TSEM) reported fourth-quarter FY21 revenue growth of 19% year-on-year to $412.1 million, missing the consensus of $430.2 million. It posted a 28% organic growth.
• The gross profit was $100 million, up 44% Y/Y.
• Adjusted EPS of $0.55 beat the consensus of $0.45.
• It generated $134 million in operating cash flow. It held $764.6 million in cash and equivalents.
• On February 15, Intel Corp (NASDAQ:INTC) agreed to acquire Tower Semiconductor at a 60% premium.
• Due to its impending acquisition, Tower Semiconductor did not provide its guidance for Q1 FY22.
• Price Action: TSEM shares traded lower by 0.76% at $46.91 in the premarket session on the last check Thursday.