GlobalFoundries skids as Susquehanna downgrades, citing lack of content growth [Seeking Alpha]
GlobalFoundries Inc. (GFS)
Company Research
Source: Seeking Alpha
Shares fell 3.3% in premarket trading. "Although the downside risk to the consensus estimates appears to be limited, it is lack of upside and lack of any catalyst on the [near-term] horizon that are expected to negatively weigh on the share price," analyst Mehdi Hosseini wrote in an investor note. Hosseini lowered his rating on GlobalFoundries to Neutral from Positive and cut his price target to $48 from $65. Hosseini added he is losing confidence in GlobalFoundries' ability to scale new substrates and products, especially given that others in the semiconductor supply chain have highlighted the increased contribution of silicon photonics and its positive impact on 800G Networking going into the second half of the year. Increased competition leads to decreased earnings GlobalFoundries is at risk as Taiwan Semiconductor ( TSM ) has become "more aggressive" in "smartphone application by bundling bulk silicon (for AP) with SOI (for front module) which is another material headwind
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GFS
News
- GLOBALFOUNDRIES Inc. (NASDAQ: GFS) had its price target lowered by analysts at HSBC Holdings plc from $56.00 to $43.00. They now have a "hold" rating on the stock.MarketBeat
- ON Semiconductor Set for Growth: Analysts Cite SiC and Auto Market Stability As Catalysts [Yahoo! Finance]Yahoo! Finance
- Taiwan Semiconductor to start new A16 chip manufacturing tech in 2026: report [Seeking Alpha]Seeking Alpha
- Air Liquide continues its trajectory with another solid quarter, combining sales growth, performance improvement and investment momentum [Yahoo! Finance]Yahoo! Finance
- India is a key chip design market, Qualcomm says, as Modi makes semiconductor push [CNBC]CNBC
GFS
Earnings
- 2/13/24 - Beat
GFS
Sec Filings
- 4/29/24 - Form 20-F
- 3/15/24 - Form 144
- 2/16/24 - Form 144
- GFS's page on the SEC website