Opinions
Jim Cramer - Mad Money
GLOBALFOUNDRIES
GFS-Q
BUY ON WEAKNESS
Nov 21, 2022
We need more foundries, because we need more chips. Likes it. It's an American version of Taiwan Semiconductors.
$66.070
Stock price when the opinion was issued
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BUY
They went public today and nobody noticed. GFS is only of 5 global semiconductor foundries. They have plants in New York, Vermont, Singapore and Germany and are investing in expanding capacity in those places, but this will limit earnings in 2022. The first half of 2021 saw strong EBITDA growth. He expects the chip shortage to last and GFS' presence in America make this a buy.
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BUY
It's one of the world's biggest semis makers during a chip shortage that could last years. Almost all its peers are down over the year while GFS is flat, which is impressive. Yesterday, they reported a super quarter--an earning beat, strong sales, huge gross margins and strong guidance for this quarter.
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TOP PICK
Stockchase Research Editor: Michael O'Reilly This manufacturer of integrated circuit boards and wafer fabrication recently reported record revenues, gross margin, and net income. It received $30 million in US federal funding to advance production of domestic semi-conductor chips. Internationally, it has developed a proprietary chip for a major automotive supplier, which will be produced in Europe and Asia providing sizable sales opportunity. We recommend placing a stop-loss at $47, looking to achieve $78 -- upside potential over 16%. Yield 0% (Analysts’ price target is $77.40)
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TOP PICK
Stockchase Research Editor: Michael O'Reilly We reiterate this manufacturer of integrated circuit boards and wafer fabrication as a TOP PICK. Recently reported revenues were up 22% on the year and net income set a new record at $336 million. The company holds $3.5 billion in cash assets. Chip manufacturing is structurally challenged in the US and the Biden Administration provided the company sizable federal funding to advance production of domestic semi-conductor chips. We recommend trailing up the stop-loss from $47 to $52, looking to achieve $73 -- upside potential over 22%. Yield 0% (Analysts’ price target is $73.15)
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PAST TOP PICK
(A Top Pick Jan 17/23, Down 1.6%)Stockchase Research Editor: Michael O'Reilly
Our PAST TOP PICK with GFS has triggered its stop at $58. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 8%, when combined with the previous buy recommendation.
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