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GlobalFoundries Inc ( (GFS) ) has provided an update.
On March 13, 2026, GlobalFoundries Inc. closed a previously announced underwritten secondary offering of 27,344,840 ordinary shares, all sold by major shareholder Mubadala Technology Investment Company. Of these, 20,000,000 shares were sold to the public at $42.00 each, while 7,344,840 shares were repurchased by GlobalFoundries from the underwriters at $40.845 per share, meaning the company itself received no proceeds from the sale.
The company’s buyback of 7,344,840 shares, for an aggregate price of about $300 million, was executed under a $500 million repurchase authorization approved by its board in February 2026. In connection with this transaction, GlobalFoundries entered into an underwriting agreement dated March 11, 2026, with Mubadala and underwriters led by J.P. Morgan Securities and Morgan Stanley, which includes a 30‑day option for underwriters to purchase up to an additional 3,000,000 shares, potentially affecting the company’s shareholder base and capital structure.
The most recent analyst rating on (GFS) stock is a Hold with a $50.00 price target. To see the full list of analyst forecasts on GlobalFoundries Inc stock, see the GFS Stock Forecast page.
Spark’s Take on GFS Stock
According to Spark, TipRanks’ AI Analyst, GFS is a Neutral.
The score is driven primarily by solid financial footing (low leverage and strong cash generation) and a constructive technical trend. Earnings-call signals are supportive (margin expansion, design wins, acquisitions and buyback) but tempered by near-term revenue softness and investment-driven free-cash-flow pressure. Valuation is a clear drag due to the provided negative P/E and lack of a dividend yield.
To see Spark’s full report on GFS stock, click here.
More about GlobalFoundries Inc
GlobalFoundries Inc., headquartered in Malta, N.Y., is a global semiconductor manufacturer specializing in foundry services for a broad range of integrated circuits. The company fabricates chips for applications spanning communications, automotive, industrial and consumer electronics, positioning itself as a key contract producer in the competitive global chip supply chain.
Average Trading Volume: 4,732,148
Technical Sentiment Signal: Buy
Current Market Cap: $23.12B
Learn more about GFS stock on TipRanks’ Stock Analysis page.