GlobalFoundries Acquires Tagore Technology's GaN Technology; No Financial Terms Disclosed

7/1/24 10:25:41 AM ET

Semiconductors

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GlobalFoundries (NASDAQ:GFS) (GF) today announced that it has acquired Tagore Technology's proprietary and production proven Power Gallium Nitride (GaN) IP portfolio, a high-power density solution designed to push the boundaries of efficiency and performance in a wide range of power applications in automotive, internet of things (IoT) and artificial intelligence (AI) datacenter. As the digital world continues to evolve with technologies like Generative AI, GaN stands out as a pivotal solution for sustainable and efficient power management particularly in datacenters.

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Recent Analyst Ratings for
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Date	Price Target	Rating	Analyst
11/20/2024	$47.00	Neutral	UBS
10/28/2024	$53.00 → $43.00	Overweight → Equal-Weight	Morgan Stanley
8/7/2024	$65.00 → $55.00	Buy	TD Cowen
5/13/2024	$67.00 → $62.00	Buy	Jefferies
4/16/2024	$71.00	Outperform	Evercore ISI
4/8/2024	$70.00 → $55.00	Overweight → Neutral	Cantor Fitzgerald
3/5/2024	$48.00	Positive → Neutral	Susquehanna
2/14/2024	$70.00 → $56.00	Buy → Neutral	Citigroup

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Up to $1.5 billion from CHIPS and Science Act to support GF's New York expansion plans and Vermont facility modernization Additional $550 million from New York State confirmed MALTA, N.Y., Nov. 20, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) and the U.S. Department of Commerce have announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act. The award follows the previously signed preliminary memorandum of terms announced in February 2024 and will enable GF to expand its essential chip manufacturing and technology development in the U.S., strengthening supply chains and supporting customers across a range
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MALTA, N.Y., Nov. 05, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the third quarter ended September 30, 2024. Key Third Quarter Financial Highlights Revenue of $1.739 billionGross margin of 23.8% and Non-IFRS gross margin(1) of 24.7%Operating margin of 10.6% and Non-IFRS operating margin(1) of 13.6%Net income of $178 million and Non-IFRS net income(1) of $229 millionNon-IFRS adjusted EBITDA(1) of $627 millionCash, cash equivalents and marketable securities of $4.3 billionYear to date net cash provided by operating activities of $1,265 million and Non-IFRS adjusted free cash flow(1) of $779 million "In the third quarte
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MALTA, N.Y., July 01, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) today announced that it has acquired Tagore Technology's proprietary and production proven Power Gallium Nitride (GaN) IP portfolio, a high-power density solution designed to push the boundaries of efficiency and performance in a wide range of power applications in automotive, internet of things (IoT) and artificial intelligence (AI) datacenter. As the digital world continues to evolve with technologies like Generative AI, GaN stands out as a pivotal solution for sustainable and efficient power management particularly in datacenters. Today's announcement reinforces GF's commitment to large-scale manufacturing
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GlobalFoundries Acquires Tagore Technology's GaN Technology; No Financial Terms Disclosed

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UBS initiated coverage on GlobalFoundries with a new price target

GlobalFoundries downgraded by Morgan Stanley with a new price target

TD Cowen reiterated coverage on GlobalFoundries with a new price target

$GFS
Press Releases

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SEC Form 6-K filed by GlobalFoundries Inc.

SEC Form 6-K filed by GlobalFoundries Inc.

SEC Form 6-K filed by GlobalFoundries Inc.

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$GFS
Leadership Updates

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GlobalFoundries Acquires Tagore Technology's GaN Technology to Accelerate Disruptive Power Management Solutions

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GlobalFoundries Acquires Tagore Technology's GaN Technology; No Financial Terms Disclosed

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Recent Analyst Ratings for $GFS

$GFS Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

UBS initiated coverage on GlobalFoundries with a new price target

GlobalFoundries downgraded by Morgan Stanley with a new price target

TD Cowen reiterated coverage on GlobalFoundries with a new price target

$GFS Press Releases

Fastest customizable press release news feed in the world

GlobalFoundries and U.S. Department of Commerce Announce Award Agreement on CHIPS Act Funding for Essential Chip Manufacturing

GlobalFoundries Reports Third Quarter 2024 Financial Results

GlobalFoundries and NXP to Deliver Next-Generation 22FDX Solutions for Automotive, IoT and Smart Mobile

$GFS Market Insights

Live Market Insights

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

Why ASLAN Pharmaceuticals Shares Are Trading Lower By Over 38%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

US Bancorp Posts Upbeat Earnings, Joins Aehr Test Systems, Hancock Whitney And Other Big Stocks Moving Higher On Wednesday

$GFS SEC Filings

$GFS Financials

Live finance-specific insights

$GFS Large Ownership Changes

This live feed shows all institutional transactions in real time.

SEC Form 6-K filed by GlobalFoundries Inc.

SEC Form 6-K filed by GlobalFoundries Inc.

SEC Form 6-K filed by GlobalFoundries Inc.

GlobalFoundries Reports Third Quarter 2024 Financial Results

GlobalFoundries Announces Conference Call to Review Third Quarter 2024 Financial Results

GlobalFoundries Reports Second Quarter 2024 Financial Results

Amendment: SEC Form SC 13G/A filed by GlobalFoundries Inc.

Amendment: SEC Form SC 13G/A filed by GlobalFoundries Inc.

SEC Form SC 13G/A filed by GlobalFoundries Inc. (Amendment)

$GFS Leadership Updates

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GlobalFoundries Acquires Tagore Technology's GaN Technology to Accelerate Disruptive Power Management Solutions

GlobalFoundries Announces Chief Financial Officer Transition and Names New Chief Business Officer

GlobalFoundries Appoints New Head of Global Supply Chain

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