Research Analysts’ Recent Ratings Changes for GlobalFoundries (GFS)

GlobalFoundries (NASDAQ: GFS) recently received a number of ratings updates from brokerages and research firms:

• 11/6/2024 – GlobalFoundries had its price target lowered by analysts at Evercore ISI from $71.00 to $55.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – GlobalFoundries had its price target lowered by analysts at Robert W. Baird from $63.00 to $50.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – GlobalFoundries had its price target lowered by analysts at Susquehanna from $50.00 to $48.00. They now have a “neutral” rating on the stock.
• 11/6/2024 – GlobalFoundries had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $40.00 price target on the stock.
• 11/6/2024 – GlobalFoundries had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 11/6/2024 – GlobalFoundries had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $55.00 to $50.00. They now have a “buy” rating on the stock.
• 11/5/2024 – GlobalFoundries had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $60.00 price target on the stock, down previously from $65.00.
• 11/5/2024 – GlobalFoundries had its price target lowered by analysts at Citigroup Inc. from $45.00 to $40.00. They now have a “neutral” rating on the stock.
• 10/28/2024 – GlobalFoundries was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $43.00 price target on the stock, down previously from $53.00.
• 10/8/2024 – GlobalFoundries had its price target lowered by analysts at Cantor Fitzgerald from $55.00 to $40.00. They now have a “neutral” rating on the stock.

GlobalFoundries Stock Up 0.8 %

Shares of NASDAQ:GFS traded up $0.34 during midday trading on Thursday, reaching $42.75. The company’s stock had a trading volume of 2,845,228 shares, compared to its average volume of 1,634,170. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $62.61. The firm has a market capitalization of $23.59 billion, a P/E ratio of 31.90, a PEG ratio of 10.28 and a beta of 1.53. The firm has a 50 day moving average of $40.20 and a 200-day moving average of $46.40. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts anticipate that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in GlobalFoundries by 2.4% in the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after purchasing an additional 1,160,403 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after buying an additional 1,299,687 shares during the last quarter. Dimensional Fund Advisors LP grew its position in GlobalFoundries by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock valued at $33,063,000 after buying an additional 77,581 shares during the period. Citigroup Inc. grew its position in GlobalFoundries by 16.0% during the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after buying an additional 86,740 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in GlobalFoundries by 267.7% during the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock valued at $17,901,000 after buying an additional 257,749 shares during the last quarter.

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.