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. The company was founded in 2009 and is based in Malta, New York.
IPO Year: 2021
Exchange: NASDAQ
Website: globalfoundries.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
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 |
2/5/2024 | $65.00 → $56.00 | Overweight → Neutral | JP Morgan |
1/23/2024 | $70.00 | Overweight | Cantor Fitzgerald |
12/15/2023 | $70.00 → $65.00 | Buy → Neutral | BofA Securities |
8/9/2023 | $70.00 → $65.00 | Buy | Deutsche Bank |
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
MALTA, N.Y., May 09, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) today announced the appointment of two new senior executives to its leadership team. Tim Stone has been appointed as the new Chief Financial Officer (CFO), taking over for David Reeder who will leave the company after transitioning to Stone over the coming months, and Niels Anderskouv will join as the new Chief Business Officer (CBO). As CFO, Mr. Stone will build on the strong foundation laid by current CFO, David Reeder, and will focus on accelerating GF's financial performance. Mr. Stone brings a world-class finance pedigree to GF including more than 20 years building Amazon's global business in senior finan
MALTA, N.Y., Nov. 21, 2022 /PRNewswire/ -- GlobalFoundries (NASDAQ:GFS) (GF), a global leader in feature-rich semiconductor manufacturing, today announced the appointment of Ashlie Wallace as Senior Vice President of Global Supply Chain, effective November 28, 2022. In this role, Ms. Wallace will spearhead GF's global supply chain operations including logistics, supply planning, sourcing, and procurement to drive operational efficiency that will support the company's continued growth. "Ashlie's deep expertise in supply chain management will continue to ensure GF is at the fore
Experienced HR executive joins GF leadership team MALTA, N.Y., Aug. 25, 2022 /PRNewswire/ -- GlobalFoundries (NASDAQ:GFS) (GF), a global leader in feature-rich semiconductor manufacturing, today announced the appointment of Pradheepa Raman as Chief People Officer. The appointment is effective September 12, 2022. An experienced human resources executive with demonstrated success in driving positive change to the employee experience and building organizational resiliency through skills development, Raman will be responsible for leading all aspects of GF's worldwide human resour
MALTA, N.Y., March 3, 2022 /PRNewswire/ -- GlobalFoundries Inc. (NASDAQ:GFS) (GF) today announced the appointment of Bobby Yerramilli-Rao as an independent director of the company's board of directors. Dr. Yerramilli-Rao is currently chief strategy officer and corporate vice president of corporate strategy at Microsoft, where he is responsible for developing and driving growth-oriented strategies. Dr. Yerramilli-Rao's appointment is effective immediately and expands the GF board to 11 directors, including five independent directors. He will be a member of the Strategy & Techno
Shares of ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) fell sharply during Wednesday's session after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation. ASLAN Pharmaceuticals shares dipped 38.7% to $0.68 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers Aptevo Therapeutics Inc. (NASDAQ:APVO) shares climbed 84% to $0.6073 after surging around 10% on Tuesday. Aptevo Therapeutics recently announced closing of $2.75 million offering. Shimmick Corporation (NASDAQ:SHIM) shares climbed 49% to $3.0173 after the company received a $27.6 million subcontract for the Sunol Valley Water Trea
U.S. stocks were mixed, with the Dow Jones index gaining around 150 points on Wednesday. Shares of U.S. Bancorp (NYSE:USB) shares rose during Wednesday's session following a second-quarter earnings beat. Revenue stood at $6.867 billion (-4.3% Y/Y), beating the consensus of $6.795 billion. Adjusted earnings per share totaled 98 cents, beating the consensus of 94 cents, according to data from Benzinga Pro. U.S. Bancorp shares gained 4.7% to $45.34 on Wednesday. Here are some other big stocks recording gains in today’s session. Aehr Test Systems (NASDAQ:AEHR) shares jumped 16.4% to $19.60 after the company reported better-than-expected Q4 financial results and issued FY25 revenu
Chip stocks led by Nvidia Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc (NASDAQ:AMD) are trading lower Wednesday as the U.S. intensified semiconductor sanctions against China, followed by Presidential candidate Donald Trump’s attack against crucial contract chipmaker Taiwan Semiconductor Manufacturing Company (NYSE:TSM). The Biden administration is contemplating using the Foreign Direct Product Rule (FDPR), which allows it to impose controls on foreign-made products that incorporate even minimal amounts of American technology, Bloomberg reports. The U.S. has presented this possibility to officials in Tokyo and The Hague. Also Read: Nvidia’s Growth Soars Despite French Investiga
As the market transitions into the second half of 2024, JPMorgan’s equity research analysts have identified several companies they believe are ready to be shorted. Their picks span different sectors, each presenting unique challenges that could impact stock performance. Here’s a closer look at three of their top short ideas: Beyond Meat Inc. (NASDAQ:BYND) Analyst Kenneth Goldman is Underweight Beyond Meat stock. Goldman’s Rationale: Consumers are increasingly moving away from alternative meat products and Beyond Meat is struggling to adapt. The company remains unprofitable, making it a candidate for shorting. Goldman’s view is Beyond Meat’s challenges are likely to persist,
Cantor Fitzgerald analyst C J Muse reiterates GLOBALFOUNDRIES (NASDAQ:GFS) with a Neutral and maintains $55 price target.
https://www.cnbc.com/2024/07/05/globalfoundries-hiring-as-semiconductor-chip-demand-rises.htmlThe semiconductor industry is recruiting workers in a tight labor market as the competition for talent ramps up and funding from the CHIPS and Science Act continues to be dispersed.It is also staring down a projected shortfall of as much as one million workers in the broader U.S. economy by 2030.GlobalFoundries, the third-largest chipmaker globally, is casting a wide net to recruit talent.The company has sought out veteran candidates, along with employees from workforce reentry programs and an initiative for women in construction.The semiconductor industry is recruiting workers in a tight labor mark
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.
SANTA CLARA, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) will kick off its annual Technology Summit series tomorrow, highlighting the critical role of GF-made essential chips in accelerating the impact and ubiquity of artificial intelligence. The theme of "AI Everywhere" will connect the keynotes, panel discussions and deep-dive sessions of GF's annual technology-focused event, which brings together leaders from across the semiconductor industry to share insights on the latest technology advancements and trends. GF customers, partners and attendees will hear how GF technology platforms provide the flexibility and reliability that will drive advancements in
MALTA, N.Y., Aug. 06, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the second quarter ended June 30, 2024. Key Second Quarter Financial Highlights Revenue of $1.632 billionGross margin of 24.2% and Non-IFRS gross margin(1) of 25.2%Operating margin of 9.5% and Non-IFRS operating margin(1) of 13.0%Net income of $155 million and Non-IFRS net income(1) of $211 millionNon-IFRS Adjusted EBITDA(1) of $610 millionCash, cash equivalents and marketable securities of $4.1 billionYear to date net cash provided by operating activities of $890 million and Non-IFRS adjusted free cash flow of $563 million "In the sec
MALTA, N.Y., July 08, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) today announced that it will host a conference call on Tuesday, August 6, 2024, at 8:30 a.m. ET following the release of the company's second quarter 2024 financial results. Conference Call and Webcast Information The company will host a conference call with the financial community on Tuesday, August 6, 2024, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here. The company's financial results and a webcast of the conference call will be available on GlobalFoundries' Investor Relations website at https://investors.gf.com. About GF GlobalFoundries (GF) is one
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
MALTA, N.Y., June 20, 2024 (GLOBE NEWSWIRE) -- BAE Systems (LON: BA) and GlobalFoundries (NASDAQ:GFS) (GF) today announced a new collaboration to strengthen the supply of critical semiconductors for national security programs. Under the strategic agreement, the companies will align technology roadmaps and collaborate on long-term strategies for increasing U.S. semiconductor innovation and manufacturing, with the joint goal of advancing the ecosystem for domestic fabrication and packaging of secure chips and solutions for use in aerospace and defense systems. Together, the companies will engage in long-term planning for emerging technologies and collaborate on research and development in a
MALTA, N.Y., June 18, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries announced today a commitment to the U.S. Department of Commerce's CHIPS Women in Construction Framework, a set of five best practices intended to increase representation of women and economically disadvantaged individuals in the construction workforce. The Framework is part of U.S. Secretary of Commerce Gina Raimondo's ongoing Million Women in Construction initiative that aims to expand the American construction workforce by doubling the number of women in construction over the next decade. GF Chief People Officer Pradheepa Raman announced the company's commitment at the "CHIPS Women in Construction Roundtable" event at the Whi
SAN DIEGO and ESSEX JUNCTION, Vt., June 05, 2024 (GLOBE NEWSWIRE) -- ElevATE Semiconductor and GlobalFoundries (NASDAQ:GFS) (GF) today announced a manufacturing partnership for high-voltage chips produced at GF's facility in Essex Junction, Vermont. Designed by ElevATE and manufactured at scale by GF on its proven and power-efficient 7HV technology platform, the chips are vital to both commercial semiconductor testing equipment and critical applications for aerospace and defense systems. The agreement outlines GF's supply of its 7HV chip technology to ElevATE and the marketplace. Manufactured on 200mm wafers at GF's Vermont facility, the mature-node chips pair power management and wireles
MALTA, N.Y., May 30, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) has been named to USA Today's "America's Climate Leaders 2024" list. GF's inclusion on the list, announced today and viewable here, is the latest recognition of the company's longstanding commitment to sustainability and corporate responsibility. "Our team works every day to find new efficiencies and innovate new ways to minimize our impact on the environment. It's fundamental to who we are as a company," said Brian Raley, director of sustainability at GF. "We are proud to have our efforts recognized by USA Today and to be included on its list of ‘America's Climate Leaders 2024.'" The "America's Climate Leade
MALTA, N.Y., May 22, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. ("GlobalFoundries" or "GF") (NASDAQ:GFS), today announced the pricing of a secondary public offering of $950 million of its ordinary shares at a price to the public of $50.75 per share (including a $200 million share repurchase, as described below). All of the shares in the offering are being offered by Mubadala Technology Investment Company (the "Selling Shareholder"). The Selling Shareholder is a wholly owned subsidiary of Mubadala Investment Company PJSC (which, together with its affiliates, is GlobalFoundries' largest shareholder). The Selling Shareholder has also granted the underwriters a 30-day option to purchase up
MALTA, N.Y., May 22, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. ("GlobalFoundries" or "GF") (NASDAQ:GFS) today announced the launch of a secondary public offering of $950 million of its ordinary shares (including a $200 million share repurchase, as described below). All of the shares in the offering are being offered by Mubadala Technology Investment Company (the "Selling Shareholder"). The Selling Shareholder is a wholly owned subsidiary of Mubadala Investment Company PJSC (which, together with its affiliates, is GlobalFoundries' largest shareholder). The Selling Shareholder is expected to grant the underwriters a 30-day option to purchase up to an additional $112.5 million of GlobalFo
MALTA, N.Y., Aug. 06, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the second quarter ended June 30, 2024. Key Second Quarter Financial Highlights Revenue of $1.632 billionGross margin of 24.2% and Non-IFRS gross margin(1) of 25.2%Operating margin of 9.5% and Non-IFRS operating margin(1) of 13.0%Net income of $155 million and Non-IFRS net income(1) of $211 millionNon-IFRS Adjusted EBITDA(1) of $610 millionCash, cash equivalents and marketable securities of $4.1 billionYear to date net cash provided by operating activities of $890 million and Non-IFRS adjusted free cash flow of $563 million "In the sec
MALTA, N.Y., July 08, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) today announced that it will host a conference call on Tuesday, August 6, 2024, at 8:30 a.m. ET following the release of the company's second quarter 2024 financial results. Conference Call and Webcast Information The company will host a conference call with the financial community on Tuesday, August 6, 2024, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here. The company's financial results and a webcast of the conference call will be available on GlobalFoundries' Investor Relations website at https://investors.gf.com. About GF GlobalFoundries (GF) is one
MALTA, N.Y., May 07, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the first quarter ended March 31, 2024. Key First Quarter Financial Highlights Revenue of $1.549 billionGross margin of 25.4% and Non-IFRS gross margin(1) of 26.1%Operating margin of 9.5% and Non-IFRS operating margin(1) of 12.1%Net income of $134 million and Non-IFRS net income(1) of $174 millionNon-IFRS EBITDA(1) of $577 millionCash, cash equivalents and marketable securities of $4.2 billion "In the first quarter, GF's dedicated teams across the world delivered financial results that exceeded the high end of the guidance ranges we provided in our Febru
MALTA, N.Y., April 05, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) today announced that it will host a conference call on Tuesday, May 7, 2024, at 8:30 a.m. ET following the release of the company's first quarter 2024 financial results. Conference Call and Webcast Information The company will host a conference call with the financial community on Tuesday, May 7, 2024, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here. The company's financial results and a webcast of the conference call will be available on GlobalFoundries' Investor Relations website at https://investors.gf.com. About GF GlobalFoundries (GF) is one of the world's
MALTA, N.Y., Feb. 13, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2023. Key Fourth Quarter Financial Highlights Revenue of $1.854 billion.Gross margin of 28.3% and adjusted gross margin(1) of 29.0%.Operating margin of 16.3% and adjusted operating margin(1) of 20.7%.Net income of $278 million and adjusted net income(1) of $356 million.Adjusted EBITDA(1) of $773 million.Cash, cash equivalents and marketable securities of $3.9 billion. Key Full Year 2023 Financial Highlights Revenue of $7.4 billion.Gross margin of 28.4% and adjusted gross margin(1) of 29.1%.Net inco
MALTA, N.Y., Jan. 08, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) today announced that it will host a conference call on Tuesday, February 13, 2024, at 8:30 a.m. ET following the release of the company's fourth quarter and full-year 2023 financial results. Conference Call and Webcast Information The company will host a conference call with the financial community on Tuesday, February 13, 2024, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here. The company's financial results and a webcast of the conference call will be available on GlobalFoundries' Investor Relations website at https://investors.gf.com. About GF GlobalFoundries In
MALTA, N.Y., Nov. 16, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) (GF) announced today that it is launching a new student loan repayment program to help current employees and new recruits pay down student loan debt. The new benefit program is part of the company's multi-million dollar investment to strengthen the semiconductor talent workforce by helping to ease the financial burden of higher education and training of our present and future employees. Under GF's new benefit program, set to begin in early 2024, U.S.-based employees and new hires that meet eligibility guidelines will be able to receive a tax-free, lifetime total of $28,500 toward their student debt, enabling emplo
MALTA, N.Y., Nov. 07, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the third quarter ended September 30, 2023. Key Third Quarter Financial Highlights Revenue of $1,852 million.Gross margin of 28.6% and adjusted gross margin(1) of 29.2%.Operating margin of 14.1% and adjusted operating margin(1) of 17.4%.Net income of $249 million and adjusted net income(1) of $308 million.Adjusted EBITDA(1) of $667 million.Cash, cash equivalents and marketable securities of $3.4 billion. "In the third quarter, GF's dedicated teams across the world delivered financial results at the upper end of the guidance
MALTA, N.Y., Oct. 02, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries (NASDAQ:GFS) today announced that it will host a conference call on Tuesday, November 7, 2023, at 8:30 a.m. ET following the release of the company's third quarter 2023 financial results. Conference Call and Webcast Information The company will host a conference call with the financial community on Tuesday, November 7, 2023, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here. The company's financial results and a webcast of the conference call will be available on GlobalFoundries' Investor Relations website at https://investors.gf.com. About GF GlobalFoundries Inc. (GF) is one of
MALTA, New York, Aug. 08, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (NASDAQ:GFS) today announced preliminary financial results for the second quarter ended June 30, 2023. Key Second Quarter Financial Highlights Revenue of $1,845 million.Gross margin of 28.8% and adjusted gross margin(1) of 29.6%.Operating margin of 14.9% and adjusted operating margin(1) of 18.3%.Net income of $237 million and adjusted net income(1) of $297 million.Adjusted EBITDA(1) of $668 million.Cash, cash equivalents and marketable securities of $3.3 billion. "In the second quarter, GF delivered financial results at the upper end of the guidance ranges we provided in our May earnings release" said Dr. Thoma
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TD Cowen reiterated coverage of GlobalFoundries with a rating of Buy and set a new price target of $55.00 from $65.00 previously
Jefferies initiated coverage of GlobalFoundries with a rating of Buy and set a new price target of $62.00 from $67.00 previously
Evercore ISI initiated coverage of GlobalFoundries with a rating of Outperform and set a new price target of $71.00
Cantor Fitzgerald downgraded GlobalFoundries from Overweight to Neutral and set a new price target of $55.00 from $70.00 previously
Susquehanna downgraded GlobalFoundries from Positive to Neutral and set a new price target of $48.00
Citigroup downgraded GlobalFoundries from Buy to Neutral and set a new price target of $56.00 from $70.00 previously
JP Morgan downgraded GlobalFoundries from Overweight to Neutral and set a new price target of $56.00 from $65.00 previously
Cantor Fitzgerald initiated coverage of GlobalFoundries with a rating of Overweight and set a new price target of $70.00
BofA Securities downgraded GlobalFoundries from Buy to Neutral and set a new price target of $65.00 from $70.00 previously
Deutsche Bank reiterated coverage of GlobalFoundries with a rating of Buy and set a new price target of $65.00 from $70.00 previously
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6-K - GLOBALFOUNDRIES Inc. (0001709048) (Filer)
6-K - GLOBALFOUNDRIES Inc. (0001709048) (Filer)
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144 - GLOBALFOUNDRIES Inc. (0001709048) (Subject)
144 - GLOBALFOUNDRIES Inc. (0001709048) (Subject)
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6-K - GLOBALFOUNDRIES Inc. (0001709048) (Filer)