Streetbeat News

GFS

GLOBALFOUNDRIES Inc.

https://www.globalfoundries.com

Industry

Semiconductors

GLOBALFOUNDRIES Inc. operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies. The company was founded in 2009 and is based in Malta, New York.

Open

42.71

Mkt cap

23B

Volume

1.6M

High

42.87

P/E Ratio

31.05

52-wk high

62.61

Low

40.58

Div yield

N/A

52-wk low

35.85

US stocks are poised for a weaker open influenced by mixed retail earnings, with Home Depot reporting a sales decline and Walmart rising after acquiring VIZIO and posting solid results. Nvidia's upcoming earnings are highly anticipated, given its expected AI-driven growth. Last week's inflation reports led to a market pullback, ending a five-week winning streak for major indices. Discover Financial surged in premarket trading after an acquisition announcement, while GLOBALFOUNDRIES and Intel saw gains from government subsidies. SSR Mining's stock fell due to a temporary suspension of search and rescue activities.

Portfolio Pulse from Shanthi Rexaline

February 20, 2024 | 12:40 pm

GlobalFoundries Inc (NASDAQ:GFS) is set to receive $1.5 billion from the CHIPS Act for expanding its New York and Vermont facilities. This marks the first grant under the act aimed at boosting U.S. semiconductor production. Intel (NASDAQ:INTC), Texas Instruments (NASDAQ:TXN), and other companies have also applied for grants. The CHIPS Act, responding to semiconductor shortages and national security concerns, supports domestic chip production to reduce reliance on foreign manufacturing.

Portfolio Pulse from Neil Dennis

February 19, 2024 | 4:39 pm

GLOBALFOUNDRIES (NASDAQ:GFS) has received mixed analyst ratings over the last three months, with a shift towards a more bullish stance in the last 30 days. The average 12-month price target for GFS has been adjusted to $65.2, down from $69.67, reflecting a 6.42% decrease. Analysts from firms including Cantor Fitzgerald, Susquehanna, JP Morgan, and B of A Securities have updated their ratings and price targets, indicating varied expectations for the company's performance. GLOBALFOUNDRIES, a leading semiconductor manufacturer, faces challenges in market capitalization, revenue growth, net margin, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 2:00 pm

Cantor Fitzgerald analyst C J Muse has reiterated an Overweight rating on GLOBALFOUNDRIES (NASDAQ:GFS) and maintained a $70 price target.