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

46.94

Mkt cap

25B

Volume

3.8M

High

47.00

P/E Ratio

34.30

52-wk high

62.61

Low

44.17

Div yield

N/A

52-wk low

35.85

Needham analyst Quinn Bolton has reiterated a Hold rating on GLOBALFOUNDRIES (NASDAQ:GFS), maintaining the firm's stance on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:55 am

GlobalFoundries Inc (NASDAQ:GFS) reported its fiscal Q1 2024 earnings with a 16% year-on-year revenue decline to $1.55 billion, surpassing analyst estimates. Adjusted EPS was $0.31, beating the consensus of $0.23. Despite a decrease in adjusted gross and operating margins, adjusted EBITDA margin improved. The company, a beneficiary of the US Chips Act, expects Q2 revenue between $1.59 billion and $1.64 billion. GFS stock rose 7.16% following the announcement. Investors can also gain exposure through ETFs LOUP and SOXQ.

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 6:28 pm

US stocks are on track for a fourth consecutive session of gains despite hawkish comments from Fed's Kashkari, with the S&P 500, Nasdaq 100, and Dow Jones all seeing modest increases. Treasury yields fell, boosting bond ETFs like TLT. Palantir and Disney shares tumbled following disappointing guidance and performance, respectively. Other notable stock movements were influenced by earnings reports and rumors of partnerships.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 5:18 pm

GlobalFoundries shares surged following the announcement of their Q1 financial results, which exceeded expectations. Additionally, the company's Q2 revenue guidance, with its midpoint above estimates, has further buoyed investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:34 pm

GlobalFoundries expects Q2 revenue to be between $1.59B-$1.64B, aligning with the $1.59B estimate, and adjusted EPS to range from $0.24-$0.34, compared to the $0.28 estimate. The guidance includes details on net revenue, gross profit, operating profit, and net income, highlighting both IFRS and non-IFRS measures.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:20 am

GLOBALFOUNDRIES (NASDAQ:GFS) reported Q1 2024 adjusted EPS of $0.31, surpassing the $0.23 estimate, with sales of $1.549B also beating the $1.523B estimate. However, this represents a 15.86% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:02 am

Arista Networks Inc (ANET) and Globalfoundries Inc (GFS) are set to report their Q1 earnings, with analysts favoring GFS as the better buy due to its more favorable valuation and higher upside potential. ANET has seen significant gains, leading to a premium valuation, while GFS, part of the MANGO semiconductor group, is considered undervalued with a forward P/E of 23.66 compared to ANET's 32.28. Analysts predict a 22.62% upside for GFS, against a 6.69% for ANET.

Portfolio Pulse from Surbhi Jain

May 06, 2024 | 7:52 pm

HSBC analyst Frank Lee maintains a Hold rating on GLOBALFOUNDRIES (NASDAQ:GFS) and lowers the price target from $56 to $43.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 6:44 pm

Analysts from Benchmark, Goldman Sachs, and BofA Securities provided updates on ON Semiconductor (NASDAQ:ON), citing SiC and the auto market as key growth drivers. Despite near-term challenges, such as inventory digestion and tepid demand, the long-term outlook remains positive due to ON's exposure to secular growth areas like Electrification and ADAS. Price targets were adjusted, reflecting cautious optimism about ON's growth trajectory amidst global SiC capacity expansion and a shift towards lower content auto platforms. ON's stock is part of ETFs QCLN and SHOC, offering investors additional exposure.

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 7:31 pm

Semiconductor stocks ON Semiconductor (NASDAQ:ON) and Globalfoundries Inc (NASDAQ:GFS) are trading near their 52-week lows as they approach Q1 earnings, part of the MANGO group aiming to emulate FAANG success. Despite recent declines, ON and Globalfoundries are considered undervalued based on P/E and EV/Sales ratios, with analysts seeing potential upside. The broader MANGO group shows varied performance, with Nvidia, Broadcom, and AMD leading in growth.

Portfolio Pulse from Surbhi Jain

April 25, 2024 | 7:14 pm

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