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GLOBALFOUNDRIES Inc. (GFS) operates as a semiconductor foundry worldwide.
It manufactures integrated circuits, which enable various electronic devices that are pervasive.
The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems. The company was founded in 2009 and is based in Malta, New York.
On August 9th, Globalfoundries reported 2nd Quarter June 2022 earnings of $0.48 per share on revenue of $2.0 billion. The consensus earnings estimate was $0.34 per share on revenue of $2.0 billion.
The company said it expects third quarter non-GAAP earnings of $0.59 to $0.65 per share on revenue of $2.035 billion to $2.065 billion. The previous consensus earnings estimate was $0.43 per share on revenue of $1.99 billion for the quarter ending September 30, 2022. Shares are heading higher using a trendline support.
Entry Point: $64.00
Stop Loss: $60.50
Trading Range: $36.81 to $79.49
Target Pirce: $70.50
GFS closed at $58.00
