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

B of A Securities analyst Vivek Arya maintains a Neutral rating on GLOBALFOUNDRIES (NASDAQ:GFS) and lowers the price target from $62 to $55.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:08 pm

Evercore ISI Group has initiated coverage on GLOBALFOUNDRIES (NASDAQ:GFS) with an Outperform rating and set a price target of $71.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:27 am

Tech, AI, and software stocks are trading lower due to an increase in Treasury yields, affecting companies like ADSK, AI, ARM, AVGO, BB, BBAI, CRWD, DOCU, GFS, HUBS, MRVL, OKTA, PANW, PLTR, SNOW, SOUN, and ZS.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:36 pm

GlobalFoundries shares are experiencing an uptick due to a general increase in the value of semiconductor stocks.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:18 pm

Broader technology stocks are trading lower due to rising Treasury yields, which followed the release of hotter-than-expected March inflation data. This indicates a negative market reaction to inflation concerns, affecting technology stocks.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:53 pm

BofA Securities analyst Vivek Arya introduced MANGO, a semiconductor stock grouping including Marvell Technology (MRVL), Advanced Micro Devices (AMD), Analog Devices (ADI), Broadcom (AVGO), Nvidia (NVDA), GlobalFoundries (GFS), and On Semiconductor (ON). The grouping aims to highlight industry leaders. Nvidia and Broadcom lead in performance, while GlobalFoundries and Onsemi lag. ON Semiconductor and GlobalFoundries are identified as undervalued, with potential upsides of 18.35% and 12.27%, respectively, based on analyst price targets.

Portfolio Pulse from Surbhi Jain

April 09, 2024 | 5:28 pm

Cantor Fitzgerald analyst C J Muse downgraded GLOBALFOUNDRIES (NASDAQ:GFS) from Overweight to Neutral and reduced the price target from $70 to $55.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 4:39 pm

In a phone meeting, President Joe Biden and China's President Xi Jinping discussed maintaining open communication to manage competition and prevent conflict, focusing on trade, national security, and technology issues, including AI and semiconductor manufacturing. The U.S. has expressed concerns over technology transfer to China, leading to legislation like the CHIPS and Science Act, benefiting companies like Intel and GlobalFoundries. Discussions also covered Taiwan, with Xi urging the U.S. to stop arms sales and Biden reaffirming his stance against Chinese intervention.

Portfolio Pulse from Neil Dennis

April 02, 2024 | 6:44 pm

NVIDIA Corp (NASDAQ:NVDA) has been highlighted by Goldman Sachs analysts for its significant returns and potential for further growth in the AI sector, despite concerns of overvaluation. The analysis outlines three subsequent phases of AI investment opportunities beyond the current phase initiated by ChatGPT, involving companies like Broadcom Inc (NASDAQ:AVGO), Advanced Micro Devices Inc (NASDAQ:AMD), Intel Corporation (NASDAQ:INTC), GlobalFoundries Inc (NASDAQ:GFS), Microsoft Corporation (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), Adobe Inc (NASDAQ:ADBE), Meta Platforms Inc (NASDAQ:META), and Apple Inc (NASDAQ:AAPL). Additionally, ETFs like Global X Artificial Intelligence & Technology ETF (NYSE:AIQ) and iShares Semiconductor ETF (NYSE:SOXX) are mentioned as ways to gain exposure to these trends.

Portfolio Pulse from Neil Dennis

March 15, 2024 | 6:21 pm

President Joe Biden is set to award Intel Corporation a significant funding from the CHIPS and Science Act to expand U.S. semiconductor production, highlighting Arizona as a key hub. This follows a $1.5 billion grant to GlobalFoundries and anticipates future grants to TSMC and potentially Samsung. The CHIPS Act aims to reduce U.S. reliance on imported tech components. Arizona's favorable climate, low disaster risk, and proximity to tech giants make it an ideal location for semiconductor fabs.

Portfolio Pulse from Neil Dennis

March 15, 2024 | 3:08 pm

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