Tower Semiconductor (NASDAQ: TSEM) stock gained after it reported fiscal second-quarter results on Monday.
The company reported a quarterly revenue growth of 6% year-on-year (Y/Y) to $372.06 million, compared to the analyst consensus estimate of $370.23 million.
The Israel-based contract chipmaker’s adjusted EPS of 50 cents beat the analyst consensus estimate of 45 cents.
Gross profit was $80 million, down 7.9% Y/Y. The …