GlobalFoundries (NASDAQ:GFS – Get Free Report) had its target price lowered by analysts at Susquehanna from $125.00 to $110.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna‘s price objective indicates a potential upside of 184.83% from the stock’s current price.
A number of other brokerages also recently issued reports on GFS. Stifel Nicolaus began coverage on GlobalFoundries in a research note on Tuesday, September 1st. They issued a “buy” rating and a $60.00 target price for the company. Zacks Research cut shares of GlobalFoundries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. BNP Paribas Exane lowered shares of GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a report on Monday, October 5th. Cantor Fitzgerald restated an “overweight” rating on shares of GlobalFoundries in a research report on Thursday, October 15th. Finally, Morgan Stanley reduced their target price on shares of GlobalFoundries from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday, November 2nd. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GlobalFoundries presently has an average rating of “Hold” and a consensus target price of $67.79.
Get Our Latest Stock Analysis on GlobalFoundries
GlobalFoundries Price Performance
Shares of GlobalFoundries stock traded up $2.26 on Thursday, hitting $38.62. 5,023,286 shares of the company were exchanged, compared to its average volume of 5,924,218. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $45.84 and a 200 day moving average price of $54.88. The stock has a market capitalization of $21.19 billion, a price-to-earnings ratio of 110.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.78. GlobalFoundries has a 1-year low of $32.02 and a 1-year high of $92.55.
GlobalFoundries (NASDAQ:GFS – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts predict that GlobalFoundries will post 1.50 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other GlobalFoundries news, Director Ganesh Moorthy bought 2,500 shares of GlobalFoundries stock in a transaction on Thursday, November 5th. The shares were bought at an average price of $37.48 per share, for a total transaction of $93,700.00. Following the completion of the transaction, the director directly owned 5,500 shares of the company’s stock, valued at $206,140. This trade represents a 83.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Pradheepa Raman sold 2,145 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $48.83, for a total value of $104,740.35. Following the completion of the transaction, the insider directly owned 2,145 shares in the company, valued at approximately $104,740.35. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 12,925 shares of company stock worth $633,881 in the last 90 days.
Institutional Trading of GlobalFoundries
Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. boosted its stake in GlobalFoundries by 239.0% during the first quarter. Sei Investments Co. now owns 48,246 shares of the company’s stock worth $2,146,000 after buying an additional 34,014 shares during the period. Bank of America Corp DE increased its position in shares of GlobalFoundries by 106.1% during the first quarter. Bank of America Corp DE now owns 875,361 shares of the company’s stock valued at $38,936,000 after acquiring an additional 450,722 shares during the last quarter. First Trust Advisors LP increased its position in shares of GlobalFoundries by 97.4% during the first quarter. First Trust Advisors LP now owns 264,837 shares of the company’s stock valued at $11,780,000 after acquiring an additional 130,643 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of GlobalFoundries in the 2nd quarter valued at approximately $3,067,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of GlobalFoundries in the 1st quarter valued at approximately $1,108,000.
GlobalFoundries News Roundup
Here are the key news stories impacting GlobalFoundries this week:
- Positive Sentiment: A Seeking Alpha article highlights improving margins and commitments that could support future growth. Another report points to a record third-quarter margin, suggesting operational progress. Margins Improve As GlobalFoundries Secures Commitments For Future Growth GlobalFoundries stock: Company posts record Q3 margin
- Positive Sentiment: TD Cowen cut its target to $60 from $75 but kept a Buy rating, while Susquehanna lowered its target to $110 from $125 and retained a positive rating. TD Cowen price-target update Susquehanna price-target update
- Neutral Sentiment: UBS, JPMorgan, and Citi lowered their targets to $43, $50, and $46, respectively, and maintained Neutral ratings. Their targets still imply potential upside from the cited $38.62 share price, but the cuts signal reduced expectations. UBS rating update JPMorgan rating update Citi rating update
- Negative Sentiment: Wedbush made a particularly steep reduction, cutting its target to $45 from $72 and citing a lower valuation multiple. The broader wave of target cuts—including reductions from Citi, JPMorgan, UBS, and TD Cowen—could reinforce concerns about GFS’s near-term valuation and outlook. Wedbush cuts GlobalFoundries price target
About GlobalFoundries
GlobalFoundries is a semiconductor foundry that manufactures integrated circuits for customers that design their own chips. Its services include wafer fabrication, process technology development, packaging support and design enablement, helping customers bring semiconductor products to market without operating their own fabrication facilities.
The company focuses on specialty technologies used in areas such as automotive electronics, communications, industrial systems, smart devices and data centers.
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