10 AI News and Ratings Making Waves on Wall Street

8. GlobalFoundries Inc. (NASDAQ:GFS)

Number of Hedge Fund Holders: 22

GlobalFoundries Inc. (NASDAQ:GFS) produces semiconductor devices and provides wafer fabrication services globally, with a focus on processors, microcontrollers, and RF modems.

On February 12, Needham upgraded GlobalFoundries (NASDAQ:GFS) to a Buy rating with a $50 price target, as the firm mentioned an improving outlook as the semiconductor industry recovers from its downturn. The firm expects year-over-year growth in 2025 and significant gross margin expansion, expecting margins to reach around 30% by Q4 2025, over 300 basis points higher than previous estimates. Growth is expected to be driven by the automotive and communications/data center sectors. Additionally, geopolitical tensions between the U.S. and China may push customers to diversify and onshore semiconductor manufacturing, which could benefit GlobalFoundries.