On May 8, GLOBALFOUNDRIES rose 5.01% in regular trading, trading at $74.55/share, with trading volume of approximately $232 million. The move was driven by better-than-expected Q1 results, a new shareholder capital return initiative, and broad semiconductor sector strength.
Specifically, the company reported Q1 non-IFRS EPS of $0.40, exceeding the consensus estimate of $0.35, while revenue of $1.63 billion grew approximately 2.5% year-over-year. Data center revenue surged 32% year-over-year, with silicon photonics business accelerating expansion. Multiple analysts raised their target prices following the results. Additionally, the company announced a new capital return target to distribute up to 50% of trailing twelve-month non-IFRS adjusted free cash flow to shareholders after completing necessary investments. A partnership with Quantum Motion, which recently raised $160 million for silicon-based quantum computing, further highlighted the company's strategic positioning in advanced manufacturing.
Within the Semiconductors sector, the overall sector rallied strongly. Among individual stocks, Intel up 15.18%, Micron Technology up 13.16%, Qualcomm up 8.89%, Advanced Micro Devices up 8.19%, NVIDIA up 1.78%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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