GlobalFoundries Added to PHLX Semiconductor Sector Index
September 20, 2022
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GLOBALFOUNDRIES($NASDAQ:GFS): GlobalFoundries Inc has announced that it has been added to the PHLX Semiconductor Sector Index, effective Monday, Sept. 19, 2022. The company went public on Nasdaq in October 2021 and has seen continued growth since then. “Our growth strategy continues to drive a clear demand for, and confidence in, our differentiated solutions and company,” said David Reeder, CFO of GF. “We are pleased to be recognized as a leading player in the semiconductor industry by being added to the PHLX Semiconductor Sector Index.” GlobalFoundries’ inclusion in the index is a testament to the company’s strong position in the industry.
Share Price
On Monday, GLOBALFOUNDRIES INC stock opened at $56.3 and closed at $57.9, up by 0.5% from prior closing price of 57.6.
VI Analysis
The company’s fundamentals reflect its long-term potential, and the following analysis on GLOBALFOUNDRIES INC is made simple by the VI app. Based on the VI Star Chart, GLOBALFOUNDRIES INC has a high health score of 7/10 with regard to its cashflows and debt, and is capable of paying off debt and funding future operations. GLOBALFOUNDRIES INC is classified as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. High growth companies are deemed more risky as they attempt to grow faster. GLOBALFOUNDRIES INC is strong in R&D, medium in asset, growth, profitability and weak in dividend.
Summary
GF joins an elite group of companies that make up this index, which includes some of the largest and most influential semiconductor companies in the world. This is a big win for GF, as it reinforces our position as a leading player in the semiconductor industry. Being added to the PHLX Semiconductor Sector Index will help us attract more attention from investors, and ultimately lead to more capital flowing into our company. This is a big vote of confidence in GF, and we believe it will be a major factor in our continued success.
