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.My July article gives a good overview of where GlobalFoundries fits in the semico ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

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. US govt grant of $1.5 billion to GlobalfoundriesCopy link to sectionThe recent news of the U.S. government awarding a $1.5 billion grant to GlobalFoundaries to bolster semiconductor production and fortify the supply chain in the U.S. has impacted the stock’s trajectory. In addition to the sizable gran ...

GlobalFoundries Fab 9 in Essex Junction, VermontGlobalFoundriesThe 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, so ...

$1.5 billion potential investment will support the expansion of GlobalFoundries New York facility, including construction of a new state-of-the art fab, and the modernization of its Vermont facility, adding secure capacity for essential chip manufacturing for automotive and other key markets Additional $600 million plus planned in New York State Green CHIPS and other State benefits over the 10-year term of the New York projects MALTA, N.Y. and ESSEX JUNCTION, Vt., Feb. 19, 2024 (GLOBE NEWSWIRE) -- The U.S. ...

GlobalFoundries (GFS) has delivered adjusted earnings of 64 cents per share in fourth-quarter 2023, beating the Zacks Consensus Estimate by 8.5%. However, the bottom line declined 56% on a year-over-year basis.Revenues of $1.85 million topped the Zacks Consensus Estimate by 0.2%. However, the top line dipped 12% year over year.Weakness across the smart mobile devices, communications infrastructure and datacenter, home and industrial IoT, and personal computing end-markets was a major concern.Wafer shipments ...

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Q4 2023 Earnings Conference Call February 13, 2023 8:30 AM ET Company Participants Sam Franklin - Head, Capital Markets & Vice President, Investor Relations Thomas Caulfield - Chief Executive Officer David Reeder - Chief Financial Officer John Hollister - Chief Financial Officer Niels Anderskouv - Chief Business Officer Conference Call Participants Harlan Sur - JPMorgan Ross Seymore - Deutsche Bank Joseph Moore - Morgan Stanley Chris Caso - Wolfe Research Krish Sankar - TD ...

GlobalFoundries Inc. (GFS) reported $1.85 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 11.8%. EPS of $0.64 for the same period compares to $1.44 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.85 billion, representing a surprise of +0.21%. The company delivered an EPS surprise of +8.47%, with the consensus EPS estimate being $0.59.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

GlobalFoundries Inc. (GFS) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $1.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.47%. A quarter ago, it was expected that this company would post earnings of $0.50 per share when it actually produced earnings of $0.55, delivering a surprise of 10%.Over the last four quarters, the company ...

For the second year in a row, GF has earned a place on Newsweek's esteemed list of "America's Most Responsible Companies," underscoring the Company's longstanding commitment to ESG and environmentally sustainable manufacturing practices. Quarterly Revenue Trend 2,101 1,841 1,845 1,852 1,854 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 -12% Y/Y Adjusted Gross Margin Trend 30.1% 28.5% 29.6% 29.2% 29.0% Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 -110 bps GlobalFoundries © 2024 All Rights Reserved 8 (Unaudited) Q4'22 Q1'23 Q2'23 Q3'23 Q4' ...