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

Shares of semiconductor and hardware stocks are trading lower as the sector pulls back following this year's strength. The sector may also be under pressure amid weakness in Amkor and Lattice, which fell on soft guidance.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 5:55 pm

The Biden-Harris Administration and Amkor Technology (NASDAQ:AMKR) have signed a preliminary memorandum to provide up to $400 million in funding under the CHIPS and Science Act. This funding will support Amkor's $2 billion semiconductor packaging facility in Peoria, Arizona, expected to create 2,000 jobs and boost the domestic semiconductor supply chain. The facility will utilize advanced technology crucial for AI and high-performance computing. The initiative aims to enhance U.S. semiconductor manufacturing and supply chain security.

Portfolio Pulse from Shivani Kumaresan

July 26, 2024 | 2:26 pm

Shares of semiconductor stocks are trading lower in possible sympathy with NXP Semiconductors, which reported mixed Q2 earnings and soft Q3 guidance.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:31 pm

Shares of semiconductor stocks are trading lower as the sector pulls back following this year's strength, which has been driven by AI momentum.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 5:49 pm

ASLAN Pharmaceuticals shares dropped over 38% after announcing the voluntary liquidation of its sole operating subsidiary. Other notable stock movements include Aptevo Therapeutics climbing 84% following a $2.75 million offering, and Shimmick Corporation rising 49% after securing a $27.6 million subcontract. Cassava Sciences fell nearly 30% due to executive leadership changes.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 5:28 pm

U.S. Bancorp posted strong Q2 earnings, leading to a 4.7% rise in its stock price. Other notable gainers include Aehr Test Systems, The Honest Company, GLOBALFOUNDRIES, Stardust Power, Bloom Energy, fuboTV, GitLab, SunCar Technology, V.F. Corporation, Nicolet Bankshares, Cal-Maine Foods, UTime Limited, Hancock Whitney, and Bristol-Myers Squibb.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 2:37 pm

Nvidia, AMD, and other semiconductor stocks are trading lower due to intensified U.S. sanctions against China and comments from Donald Trump about Taiwan Semiconductor Manufacturing Company. The Biden administration is considering using the Foreign Direct Product Rule to impose controls on foreign-made products with American technology. The broader chip sector, including companies like Broadcom, Qualcomm, and Micron, is also affected.

Portfolio Pulse from Anusuya Lahiri

July 17, 2024 | 1:43 pm

JPMorgan analysts have identified Beyond Meat (BYND), Shake Shack (SHAK), and GlobalFoundries (GFS) as potential short opportunities due to various sector-specific challenges. Beyond Meat faces declining consumer interest in alternative meats, Shake Shack struggles with high promotional activity and low traffic visibility, and GlobalFoundries is expected to see slower growth compared to its peers.

Portfolio Pulse from Surbhi Jain

July 16, 2024 | 4:23 pm

Cantor Fitzgerald analyst C J Muse has reiterated a Neutral rating on GLOBALFOUNDRIES (NASDAQ:GFS) and maintained a $55 price target.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 4:16 pm

GlobalFoundries is aggressively recruiting talent to meet soaring demand for semiconductors, driven by funding from the CHIPS and Science Act. The company is addressing a projected shortfall of workers by targeting veterans, workforce reentry programs, and women in construction. GlobalFoundries is also expanding its manufacturing capacity with $1.5 billion in CHIPS funding, creating thousands of jobs.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 7:40 pm

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