India, Nov. 2 -- Tower Semiconductor Ltd. (TSEM) is down 8.28 percent, losing $13.79 to $152.69 on Monday. The decline comes despite the company reporting higher third-quarter earnings, with net income increasing to $120.26 million, or $1.05 per share, from $53.65 million, or $0.47 per share, a year earlier. Adjusted earnings reached $131.30 million, or $1.15 per share.
Tower Semiconductor is currently trading at $152.69, down from the previous close of $166.48 after opening at $161.02 on the Nasdaq. The stock has traded between $151.01 and $161.51 during the session. Trading volume stands at about 760,000 shares, compared with average volume of about 2.11 million shares.
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