-- GlobalFoundries (GFS) likely to post a slight Q1 beat as concerns around handset and impact from memory shortage do not appear to have negatively affected foundry dynamics, Wedbush said in a Monday research report.
Heightened requirements on the specialty application front should benefit the company likely through the long-term, analysts wrote. The company is due to report Q1 results on May 5.
The company could prioritize expanded opportunities in the Gallium-Nitride segment as the demand for the semiconductor material is set to grow from the rising usage in data center and satellite applications, according to the note.
The company will likely continue to moderate capacity additions and optimize production for higher margin specialty opportunities, the brokerage stated.
The brokerage reiterated its neutral rating on the stock and price target of $50.
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