Tower Semiconductor's fourth quarter performance in 2023

Hightower Semiconductor's performance in the fourth quarter of 2023 was relatively stable, with revenue falling 1.7% quarter-on-quarter to $352 million. This decline was mainly affected by the inventory correction initiated by automotive/industrial control customers. However, due to its long-term operation in niche markets such as RFFEM, automotive/industrial control, Hightower Semiconductor's performance was less affected.