GlobalFoundries Inc. (GFS)
Why Is GlobalFoundries (GFS) Stock Up Nearly 10% Today?
Semiconductor foundry GlobalFoundries (NASDAQ: GFS ) popped sharply higher on Wednesday, gaining about 10% before paring back some of the enthusiasm. Recent comments by former President Donald Trump catapulted the swing up.
Why GlobalFoundries Stock Soared 7% on Wednesday
Former President Trump complained about Taiwan's dominance in the market for contract production of semiconductors yesterday. Shares of Taiwan Semiconductor Manufacturing are taking a hit on the news.
GlobalFoundries races to find semiconductor talent as demand for chips soars
The 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's also staring down a projected shortfall of as much as 1 million workers in the broader U.S. economy by 2030.
3 Semiconductor Stocks to Buy on the Dip: June 2024
Semiconductor stocks are delivering record performance as of late. Key technological breakthroughs in fields such as artificial intelligence have caused a gold rush atmosphere across the chip stock space.
International Assets Investment Management LLC Sells 1,464 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)
International Assets Investment Management LLC lowered its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,770 shares of the company’s stock after selling 1,464 shares during the period. International Assets Investment Management LLC’s holdings in GLOBALFOUNDRIES were worth $531,000 as of its most recent SEC filing. Several other hedge funds have also added to or reduced their stakes in the business. Advisors Preferred LLC bought a new position in GLOBALFOUNDRIES in the third quarter valued at approximately $58,000. Blue Trust Inc. lifted its position in GLOBALFOUNDRIES by 31.6% in the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after acquiring an additional 363 shares in the last quarter. Toronto Dominion Bank boosted its stake in GLOBALFOUNDRIES by 122.5% in the 3rd quarter. Toronto Dominion Bank now owns 3,473 shares of the company’s stock worth $202,000 after purchasing an additional 1,912 shares during the period. Himension Capital Singapore PTE. LTD. bought a new position in GLOBALFOUNDRIES during the 3rd quarter worth about $216,000. Finally, Headlands Technologies LLC acquired a new stake in shares of GLOBALFOUNDRIES in the 3rd quarter valued at about $225,000. Wall Street Analysts Forecast Growth Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Jefferies Financial Group began coverage on shares of GLOBALFOUNDRIES in a research note on Monday, May 13th. They set a “buy” rating and a $62.00 price target for the company. Susquehanna lifted their price objective on shares of GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. Finally, Morgan Stanley lifted their price target on shares of GLOBALFOUNDRIES from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.62. View Our Latest Stock Analysis on GLOBALFOUNDRIES GLOBALFOUNDRIES Trading Down 0.4 % GLOBALFOUNDRIES stock opened at $53.95 on Monday. The stock has a 50-day simple moving average of $50.67 and a 200 day simple moving average of $53.95. The stock has a market capitalization of $29.86 billion, a P/E ratio of 33.30, a PEG ratio of 5.08 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 2.18. GLOBALFOUNDRIES Inc. has a 52 week low of $45.52 and a 52 week high of $68.57. GLOBALFOUNDRIES Company Profile (Free Report) GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.
