Globalfoundries Inc. - GFS STOCK NEWS

GlobalFoundries (Nasdaq: GFS) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for onsemi's acquisition of GF's East Fishkill facility. This regulatory milestone confirms that the deal is on track to close by the end of 2022. GF has utilized the three-year transition period to optimize its global assets and invest in differentiated technologies, ensuring the long-term viability of the East Fishkill facility and its workforce.

GlobalFoundries (NASDAQ: GFS) will host a conference call on May 10, 2022, at 4:30 PM EDT to discuss its Q1 2022 financial results. This call follows the release of its financial report after market closure. Participants can join by dialing 1-877-788-0411 (U.S.) or 1-615-489-8522 (international) using passcode 8265345. Furthermore, the company announced its first Capital Markets Day, scheduled for August 10, 2022, in New York City, where updates on business, technology, and finance will be provided.

On March 7, 2022, GlobalFoundries (Nasdaq: GFS) announced a collaboration with major industry leaders like Broadcom, Cisco, and NVIDIA to address challenges in data centers with innovative silicon photonics solutions. The company introduced its GF Fotonix™ platform, which aims to enhance data transmission efficiency, leveraging a projected growth in the optical networking market to $4 billion by 2026. GF's advanced manufacturing capabilities will support this initiative, alongside partnerships to develop custom silicon photonics solutions, promising improved performance and energy efficiency for high-demand applications.

GlobalFoundries (Nasdaq: GFS) announced the appointment of Bobby Yerramilli-Rao as an independent director, expanding its board to 11 members. Currently the chief strategy officer at Microsoft, Dr. Yerramilli-Rao brings extensive experience in technology strategy and innovation. His role will include serving on the Strategy & Technology Committee, as GF aims to enhance its growth and address evolving customer needs in semiconductor manufacturing. The board chair, Ahmed Yahia Al Idrissi, expressed confidence in Bobby's potential to contribute to GF's innovation journey.

GlobalFoundries (Nasdaq: GFS) reported a record fourth quarter revenue of $1.85 billion, up 9% sequentially. Gross margin improved to 20.8% with an adjusted gross margin of 21.5%. For the fiscal year 2021, revenues reached $6.6 billion, reflecting a 36% year-over-year growth. Operating margins were 5% in Q4 and -1% for the year. The company highlighted significant partnerships, including a supply extension with AMD and a collaboration with Ford. Cash reserves stand at $2.9 billion, providing a robust foundation for future expansion.

GlobalFoundries (NASDAQ: GFS) will host a conference call on February 8, 2022, at 4:30 PM EST to discuss its fourth quarter and full year 2021 financial results. The call follows the release of the financial data after market close. Interested parties can join by dialing 1-877-788-0411 (U.S.) or 1-615-489-8522 (International) with the passcode 8285067. The conference call and a replay will be available on GF's Investor Relations website. GlobalFoundries is a major player in semiconductor manufacturing, offering a mix of design, development, and fabrication services.

GlobalFoundries (Nasdaq: GFS) has amended its Wafer Supply Agreement with AMD, increasing the volume of chips supplied and extending the agreement through 2025. This partnership will secure approximately $2.1 billion worth of wafers for AMD from 2022 to 2025, addressing the ongoing supply-demand imbalance in the semiconductor industry. CEO Tom Caulfield emphasized the importance of long-term supply assurance amid unprecedented global demand for semiconductors.

GlobalFoundries (GFS) announced strong Q3 2021 results, with revenue of $1.7 billion, a 5% sequential increase. Gross margins reached a record 17.6%, while adjusted EBITDA margins rose to 30%, marking an 84% year-over-year growth. Cash flows from operations totaled $1.1 billion. The company's robust performance was driven by higher wafer output and technological advancements. Looking ahead, GFS expects Q4 revenue between $1.8 billion and $1.83 billion, indicating continued growth.

GlobalFoundries (Nasdaq: GFS) and Ford (NYSE: F) announced a strategic partnership on Nov. 18, 2021, to enhance semiconductor manufacturing in the U.S. This collaboration seeks to improve chip supply for Ford's vehicles and the broader automotive industry. The companies signed a non-binding agreement that may lead to the development of advanced semiconductor solutions for automotive applications, including ADAS and battery management systems. The initiative aims to boost innovation and maintain supply-demand balance in the auto sector, emphasizing each company's strengths without cross-ownership.