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

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

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:48 pm

Taiwan Semiconductor Manufacturing Corp. (TSMC) is expected to receive up to $5 billion in grants from the U.S. government for a chip fabrication facility in Arizona to meet the demand from major customers like Apple and Nvidia. The facility is part of TSMC's $40 billion investment in semiconductor manufacturing in Phoenix, aiming to start production in 2025. This move aligns with the U.S. CHIPS Act's goal to boost domestic semiconductor production.

Portfolio Pulse from Neil Dennis

March 08, 2024 | 7:39 pm

Semiconductor stocks are experiencing an uptick due to the ongoing momentum in AI technology. Broadcom is set to announce its Q1 earnings after the market closes today. The sector's rise is also partly attributed to the anticipation of subsidies from the CHIPS act.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 4:39 pm

Susquehanna analyst Mehdi Hosseini downgraded GLOBALFOUNDRIES (NASDAQ:GFS) from Positive to Neutral and reduced the price target from $65 to $48.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:46 pm

GlobalFoundries shares are trading lower following a downgrade by Susquehanna from Positive to Neutral.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:44 pm

GLOBALFOUNDRIES (NASDAQ:GFS) received mixed analyst ratings over the past three months, with a shift towards a more cautious stance in the last 30 days. The average 12-month price target is $63.43, down 5.33% from the previous target. The company, a top-five contract semiconductor manufacturer, has shown a revenue growth rate of 0.11% as of December 31, 2023, but faces challenges in market capitalization, net margin, ROE, and ROA compared to industry benchmarks. Its debt-to-equity ratio is below the industry average, indicating less reliance on debt financing.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 1:01 pm

Susquehanna analyst Mehdi Hosseini has downgraded GLOBALFOUNDRIES (NASDAQ:GFS) from Positive to Neutral, indicating a change in the firm's outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:49 pm

Intel Corp (NASDAQ:INTC) stock rose amid discussions with the U.S. government to secure a record sum under the U.S. Chips Act, aiming to enhance its position in the AI market. The company could receive over $10 billion in loans and grants. Intel is also expanding its manufacturing capabilities, including a significant investment in a new plant in Ireland and a partnership with Brookfield Infrastructure in Arizona. However, analysts predict a first-quarter sales miss due to various challenges. Meanwhile, GlobalFoundries Inc (NASDAQ:GFS) secured $1.5 billion in grants under the same act.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 5:37 pm

NVIDIA Corp (NASDAQ:NVDA) shares dropped over 5% amid a broader semiconductor sector sell-off, with investors taking profits ahead of its earnings report. ARM Holdings (NASDAQ:ARM) and Super Micro Computer (NASDAQ:SMCI) also saw declines. Globalfoundries Inc (NASDAQ:GFS) and Intel Corp (NASDAQ:INTC) traded higher, buoyed by news of government funding. NVIDIA received bullish analyst coverage from Loop Capital and Rosenblatt with high price targets.

Portfolio Pulse from Aaron Bry

February 20, 2024 | 3:52 pm

GlobalFoundries shares are trading higher following the announcement that the U.S. has awarded the company $1.5 billion in direct funding as part of the U.S. CHIPS and Science Act.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:12 pm

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