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Unterberg maintains Tower at "Market Perform".
(From Israel Business Arena)
Byline: Globes correspondent
Following the release of Tower Semiconductor's (Nasdaq: TSEM; TASE: TSEM) fourth quarter results and the resignation of CEO Carmel Vernia, C.E. Unterberg, Towbin analyst Ramesh Misra maintains the company at "Market Perform". "In-line with the on-going softness in the foundry sector, Tower Semiconductor reported Q4 sales of $30.1 million (-14% Q/Q) which was at the lower end of its guidance of $30 33 million provided in late October, and below our and consensus estimates. Excluding capital gains of $32.5 million from the sale of its entire stake in Saifun, the flash technology IP company, loss per share was $55.9 million …
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