GlobalFoundries

GLOBALFOUNDRIES, Inc. provides foundry services and manufactures semiconductors. It offers global shuttle, mask, post-fab and turnkey services. The company was founded in 2009 and is headquartered in Malta, NY.

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GlobalFoundries surpasses revenue targets, eyes growth amid industry challenges

GlobalFoundries delivered strong financial performance in Q4 2022, exceeding revenue guidance and improving margins, driven by growth across key end markets.
The company's focus on innovation, customer engagements, and cost-saving initiatives positions it well to navigate industry challenges and capitalize on growth opportunities.
Anticipated revenue trough in H1 2023 requires strategic planning, while investments in capacity expansion and operational efficiency enhance long-term prospects.
Revenue growth from single-source business and deep customer partnerships underscore financial resilience and potential for significant free cash flow generation.

GlobalFoundries (GFS) reports resilient Q1 results amidst semiconductor challenges

GlobalFoundries (GFS) navigated Q1 challenges with resilience, focusing on revenue diversification and strategic leadership additions.
Despite industry headwinds, the company remains positioned for growth through capacity expansion and differentiated product offerings.
Anticipated sequential revenue growth, cautious market outlook, and focus on key growth drivers signal a balanced approach to future opportunities.

GlobalFoundries exceeds Q2 expectations, eyes growth in automotive and A&D

GlobalFoundries delivered strong Q2 results, showcasing robust revenue, margin, and earnings performance.
The company's strategic collaborations, accreditations, and market focus position it well for future growth.
Challenges include revenue decline outlook for 2023 and the need to navigate varying ASP trends by end markets.
Opportunities lie in expanding revenue in automotive and A&D markets, leveraging government incentives, and maintaining pricing competitiveness.

GlobalFoundries exceeds Q3 expectations, eyes automotive growth opportunities

GlobalFoundries (GFS) delivered strong Q3 2023 results, exceeding revenue and EPS guidance, with a focus on key market progress and capacity expansion
Challenges include industry transitions impacting revenue growth and concerns over macroeconomic uncertainties and smart mobile devices market dynamics
Opportunities lie in the automotive sector beyond electrification, with a focus on autonomous and connected vehicles, alongside stable LTAs pricing
The company's performance, strengths, challenges, and opportunities position it for continued growth and resilience in the semiconductor industry

GlobalFoundries surpasses Q4 revenue targets, eyes growth amid challenges

GlobalFoundries (GFS) navigated challenges in 2023, exceeding revenue guidance and focusing on strategic partnerships. Caution for 2024 outlook due to market dynamics, but confidence in increased free cash flow delivery. Emphasis on differentiation, stable pricing, and capacity expansion positions GF for growth and resilience.

GlobalFoundries surpasses Q1 guidance, eyes automotive and mobile growth

GlobalFoundries delivered strong Q1 results, exceeding revenue guidance and showcasing resilience in challenging end markets.
The company's focus on LTAs, strategic capacity expansion, and market diversification positions it well for future growth and profitability.
Despite challenges in certain segments, opportunities in automotive, smart mobile devices, and IoT markets offer avenues for revenue expansion.
CHIPS Act funding and LTAs totaling $30 billion in lifetime revenue underscore GlobalFoundries' commitment to supply surety and market resilience.

GlobalFoundries surpasses Q2 expectations, eyes growth in diversified markets

GlobalFoundries delivered strong Q2 2024 results, exceeding guidance and showcasing solid financial performance.
Strategic investments, diversified revenue streams, and focus on differentiated technology highlight growth prospects.
Challenges in maintaining gross margin and navigating industry competition require strategic planning and operational efficiency.

GlobalFoundries excels in Q3 earnings, eyes growth in key markets

GlobalFoundries delivered a strong Q3 performance, surpassing financial targets and demonstrating resilience in a competitive semiconductor market.
With a focus on diversification, strategic partnerships, and market expansion, the company is well-positioned to capitalize on growth opportunities in key sectors.
Challenges in pricing dynamics and technology evolution require proactive strategies, but GlobalFoundries' strengths in operational efficiency and market positioning offer a solid foundation for future success.

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GLOBALFOUNDRIES, Inc. provides foundry services and manufactures semiconductors. It offers global shuttle, mask, post-fab and turnkey services. The company was founded on October 7, 2008 and is headquartered in Malta, NY.

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 to an additional $112.5 million of GlobalFoundries' ordinary shares (equal to 15% of the initial ordinary shares being sold to the public) at the public offering price minus underwriting discounts and commissions. The offering is expected to close on May 28, 2024, subject to customary closing conditions.

GlobalFoundries Announces Pricing of $950 Million Secondary Offering of Ordinary Shares, Including Concurrent $200 Million Share Repurchase

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 GlobalFoundries' ordinary shares (equal to 15% of the initial ordinary shares being sold to the public).

GlobalFoundries Announces Launch of $950 Million Secondary Offering of Ordinary Shares, Including Concurrent $200 Million Share Repurchase

Effort aims to develop the next generation of diverse semiconductor talent, accelerate R&D and strengthen collaboration between industry and academia Effort aims to develop the next generation of diverse semiconductor talent, accelerate R&D and strengthen collaboration between industry and academia

GlobalFoundries Partners with Micron and U.S. National Science Foundation to Drive Semiconductor Workforce Development at Minority Serving Institutions

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GLOBALFOUNDRIES Inc. (NASDAQ:GFS ) Q1 2024 Earnings Conference Call May 7, 2024 8:30 AM ET Company Participants Sam Franklin - Vice President of Business Finance & Investor Relations Thomas Caulfield - Chief Executive Officer John Hollister - Chief Financial Officer Niels Anderskouv - Chief Business Officer Conference Call Participants Vivek Arya - Bank of America Securities Chris Caso - Wolfe Research Harlan Sur - JP Morgan Joseph Moore - Morgan Stanley Christopher Danely - Citi Ross Seymore - Deutsche Bank CJ Muse - Cantor Fitzgerald Mehdi Hosseini - Susquehanna International Group Operator Good day and thank you for standing by. Welcome to the GLOBALFOUNDRIES Conference Call to review the First Quarter of Fiscal Year 2024 Financial Results.

GLOBALFOUNDRIES Inc. (GFS) Q1 2024 Earnings Call Transcript

The headline numbers for GlobalFoundries (GFS) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

GlobalFoundries (GFS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Shares of semiconductor maker GlobalFoundries (GFS) jumped after markets opened Tuesday following the release of a first-quarter earnings report that beat expectations.

GlobalFoundries Stock Surges as Income Nearly Doubles Expectations

GlobalFoundries Inc. (GFS) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.52 per share a year ago.

GlobalFoundries Inc. (GFS) Beats Q1 Earnings and Revenue Estimates

Contract chipmaker GlobalFoundries beat estimates for the first quarter and offered in-line to better-than-expected guidance for the current period.

Chipmaker GlobalFoundries Tops Q1 Views, Offers Reassuring Outlook

GlobalFoundries forecast second-quarter revenue above Wall Street estimates on Tuesday, betting on improving demand for semiconductors after a years-long slump that was caused by surplus inventory at its customers.

GlobalFoundries forecasts Q2 revenue, profit above estimates on chip market recovery

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.

GlobalFoundries Reports First Quarter 2024 Financial Results

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New goals target additional reductions and removal of greenhouse gas emissions to help fight climate change New goals target additional reductions and removal of greenhouse gas emissions to help fight climate change

GlobalFoundries Commits to Achieving Net Zero Emissions and Carbon-Neutral Power by 2050

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.

GlobalFoundries Announces Conference Call to Review First Quarter 2024 Financial Results

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JERUSALEM, Israel--(BUSINESS WIRE)-- #OFC2024--Teramount, announces a collaboration with GlobalFoundries (GF) to address the challenge of connecting fibers to Silicon Photonics (SiPh) chips.

Teramount and GlobalFoundries Collaborate to Advance Silicon Photonics

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GlobalFoundries Gets a Downgrade. The Stock Drops.

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When I last wrote about GlobalFoundries ( GFS ) in early July, as shares were trading near $65, I summed up that this "US-based Semi fabricator fights to draw new business in a global nanometer AI-chip war." Well after their Q4 report two weeks ago, the story has not improved, with continued year-over-year declines in sales and profits and weaker guidance for both that has dropped the stock back into the cellar of the Zacks Rank.

Bear of the Day: GlobalFoundries (GFS)

The US government has awarded a $1.5 billion grant to GlobalFoundries under a broader initiative to enhance domestic semiconductor production. This funding, part of the CHIPS and Science Act initiative approved by Congress in 2022, will facilitate the construction of a new semiconductor production site in New York, and the expansion of operations in Vermont.

Semiconductor industry hails GlobalFoundries' $1.5bn CHIPS funding

Globalfoundries Inc (NASDAQ:GFS) closed at $53.38, marking a significant pre-market surge of $3.88. Pre-market trading tends to exhibit heightened volatility due to lower trading volume outside standard hours.

Globalfoundries stock jumps on US govt's $1.5-billion grant to boost chip production

The announcement of a preliminary memorandum to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to GlobalFoundries (GF) signals an investment in critical domestic capabilities around mixed signal and analog technology, a branch of the semiconductor industry that gets far less attention than it deserves. While the majority of the funding will contribute towards the expansion of GF's facilities in Malta, NY, some portion will be directed towards the revitalization of its Fab 9 in Essex Junction (Burlington), Vermont.

News for GlobalFoundries Stock (GFS)