Tower Semiconductor Stock Gains on Q3 Beat, Clocks 25 Percent Revenue Growth

Traders work on the main trading floor of the New York Stock Exchange shortly after the opening bell of the trading session in the Manhattan borough of New York City on Jan. 7, 2016. Brendan McDermid/Reuters

Tower Semiconductor Ltd (TSEM) reported third-quarter FY21 revenue growth of 25 percent year-on-year to $386.7 million, beating the consensus of $384.97 million. It posted a 40 percent organic growth.

The gross margin expanded 171 bps Q/Q to 22.1 percent.