Globalfoundries Inc. Stock Price, News & Analysis

GlobalFoundries (NASDAQ: GFS) has scheduled a conference call on May 9, 2023, at 8:30 a.m. ET to discuss its Q1 2023 financial results. The call will provide insights into the company’s performance and strategic direction. Interested parties can register for the call here. Financial results and a webcast will be available at the Investor Relations website.

GlobalFoundries (Nasdaq: GFS) has partnered with Georgia Tech to enhance semiconductor research and education.

The collaboration will focus on developing new educational opportunities and joint R&D programs related to GF technology. The partnership aims to support workforce development in the semiconductor industry, tapping into U.S. government funding through the CHIPS and Science Act.

Both organizations plan to create internship programs, enhance curriculum, and inspire diversity within the semiconductor sector.

GF's research initiatives will be managed by GF Labs, ensuring alignment with industry needs and innovation goals.

GlobalFoundries (GFS) reported robust preliminary financial results for Q4 and FY2022, achieving a Q4 revenue of $2,101 million, a 14% increase year-over-year. Yearly revenue reached $8,108 million, up 23%, with a gross margin of 27.6%. Q4 net income soared to $668 million, marking a 1,453% year-over-year increase. Adjusted EBITDA for the year stood at $3,088 million. The company secured a long-term agreement with General Motors and acquired Renesas' CBRAM technology, bolstering its growth strategy. However, a decline in wafer shipments in Q4 was noted, potentially impacting future revenues.

General Motors and GlobalFoundries have announced a strategic agreement to establish a dedicated chip supply corridor. This collaboration aims to improve the manufacturing of semiconductors for GM, responding to the growing demand driven by complex vehicle technologies.

The agreement allows GlobalFoundries to manufacture chips for GM's suppliers in New York, enhancing supply chain resilience. GM anticipates a doubling of its semiconductor needs in the coming years, crucial for electrification and autonomous driving. The partnership underscores a commitment to U.S. semiconductor production, supporting local economies and job creation.

GlobalFoundries (GFS) has announced the acquisition of Renesas Electronics’ Conductive Bridging Random Access Memory (CBRAM) technology, enhancing its memory solutions portfolio. This low power memory solution is aimed at improving applications in IoT and smart devices, offering high read/write speeds and reduced manufacturing costs.

The acquisition is expected to accelerate the development of embedded non-volatile memory solutions, enabling customers to design advanced, energy-efficient devices. Notably, CBRAM technology allows for extended battery life in products, with potential applications ranging from wearables to industrial devices.

GlobalFoundries (NASDAQ: GFS) announced a conference call set for February 14, 2023, at 8:30 a.m. ET, to discuss the company's fourth quarter and full-year 2022 financial results. Interested parties can join the call by registering online. The financial results and a webcast of the call will be available on GF’s Investor Relations website. GF is a leading semiconductor manufacturer known for its innovative process technology solutions, supporting global customers across various markets.

GlobalFoundries (Nasdaq: GFS) has announced a strategic partnership with Purdue University to bolster semiconductor research and education. This collaboration focuses on joint R&D programs and educational opportunities, enhancing the talent pipeline in semiconductor engineering. Both parties aim to address the growing demand for skilled professionals in the semiconductor industry, underlining the strategic significance of semiconductors for economic security. The initiative complements Purdue's recent launch of the first comprehensive semiconductor degree program in the U.S.

GlobalFoundries Inc. (GFS) reported record third-quarter financial results for 2022, with revenue of $2.1 billion, a 22% increase year-over-year. The net income reached $336 million, marking a 6,620% rise from the previous year. Key metrics include a gross margin of 29.4% and an operating margin of 17.2%. The company also achieved a record in wafer shipments at 637,000 units. Looking ahead, GFS projects Q4 2022 revenue between $2.05 billion and $2.1 billion, with net income expected between $645 million and $770 million.