GlobalFoundries
About: GlobalFoundries is a top-five contract semiconductor manufacturer globally. It was originally the manufacturing arm of Advanced Micro Devices before it was spun out in 2009. The foundry sells chips into a range of end markets including smartphones, PCs, Internet of Things, data centers, automotive, industrial, and so on, but primarily focuses on more mature process technologies. Until 2021, the firm was privately held by Mubadala Investment, the sovereign wealth fund of the United Arab Emirates. GlobalFoundries merged with Chartered Semiconductor Manufacturing in 2009 and acquired IBM's chipmaking business in 2015. GF is headquartered in Malta, New York, and employs about 12,000 people.
Employees: 12,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
25% more repeat investments, than reductions
Existing positions increased: 104 | Existing positions reduced: 83
5% more first-time investments, than exits
New positions opened: 45 | Existing positions closed: 43
1% more funds holding
Funds holding: 265 [Q2] → 267 (+2) [Q3]
9% less call options, than puts
Call options by funds: $56M | Put options by funds: $61.8M
3.92% less ownership
Funds ownership: 102.9% [Q2] → 98.97% (-3.92%) [Q3]
23% less capital invested
Capital invested by funds: $28.9B [Q2] → $22.1B (-$6.78B) [Q3]
33% less funds holding in top 10
Funds holding in top 10: 3 [Q2] → 2 (-1) [Q3]
Research analyst outlook
8 Wall Street Analysts provided 1 year price targets over the past 3 months
8 analyst ratings
UBS Timothy Arcuri 45% 1-year accuracy 14 / 31 met price target | 7%upside $47 | Neutral Initiated | 20 Nov 2024 |
Evercore ISI Group Mark Lipacis 51% 1-year accuracy 27 / 53 met price target | 25%upside $55 | Outperform Maintained | 6 Nov 2024 |
Deutsche Bank Ross Seymore 44% 1-year accuracy 7 / 16 met price target | 14%upside $50 | Buy Maintained | 6 Nov 2024 |
Susquehanna Mehdi Hosseini 53% 1-year accuracy 21 / 40 met price target | 9%upside $48 | Neutral Maintained | 6 Nov 2024 |
Cantor Fitzgerald C J Muse 38% 1-year accuracy 31 / 82 met price target | 9%downside $40 | Neutral Reiterated | 6 Nov 2024 |
Financial journalist opinion
Based on 6 articles about GFS published over the past 30 days
