Shares of GlobalFoundries Inc. (NASDAQ:GFS) traded today at $67.85, eclipsing its 52-week high. Approximately 802,000 shares have changed hands today, as compared to an average 30-day volume of 2.2 million shares.
GLOBALFOUNDRIES Inc. is a semiconductor foundry. It manufactures complex ICs that enable electronic devices that are pervasive in every sector of the economy. It derives revenue primarily from fabricating semiconductor wafers using the company’s manufacturing processes for the company’s customers based on their proprietary integrated circuit designs and, from design, mask making, bumping, probing, assembly, and testing services.
In the past 52 weeks, shares of GlobalFoundries Inc. have traded between a low of $44.48 and a high of $67.85 and is now at $67.25, which is 51% above that low price.
Potential upside of 15.5% exists for GlobalFoundries Inc., based on a current level of $67.25 and analysts’ average consensus price target of $77.67.
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