GlobalFoundries (NASDAQ:GFS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of GlobalFoundries (NASDAQ:GFS) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on GFS. Susquehanna boosted their target price on GlobalFoundries to $125.00 and gave the stock a “positive” rating in a report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $70.00 price target on shares of GlobalFoundries in a research note on Tuesday, May 5th. Cantor Fitzgerald raised GlobalFoundries from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $50.00 to $80.00 in a research note on Monday, May 4th. Jefferies Financial Group restated a “hold” rating and issued a $65.00 price objective on shares of GlobalFoundries in a report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on GlobalFoundries from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.62.

GlobalFoundries Stock Down 4.5%

GlobalFoundries stock opened at $65.84 on Monday. The stock has a market cap of $36.13 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.43 and a beta of 1.76. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $76.99 and its two-hundred day moving average price is $55.92. GlobalFoundries has a 52 week low of $31.51 and a 52 week high of $92.55.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. GlobalFoundries had a net margin of 11.40% and a return on equity of 6.85%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. On average, analysts expect that GlobalFoundries will post 1.38 EPS for the current fiscal year.

GlobalFoundries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Wednesday, June 24th will be given a $0.12 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $0.48 annualized dividend and a yield of 0.7%. GlobalFoundries’s payout ratio is 34.53%.

Insiders Place Their Bets

In other news, insider Samak L. Azar sold 335 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $77.36, for a total transaction of $25,915.60. Following the completion of the sale, the insider directly owned 13,149 shares of the company’s stock, valued at $1,017,206.64. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $83.53, for a total value of $233,884.00. Following the completion of the transaction, the insider owned 3,745 shares in the company, valued at $312,819.85. The trade was a 42.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,845 shares of company stock valued at $1,574,282 in the last quarter.

Institutional Trading of GlobalFoundries

Several institutional investors and hedge funds have recently bought and sold shares of GFS. Royal Bank of Canada boosted its holdings in shares of GlobalFoundries by 4.4% in the first quarter. Royal Bank of Canada now owns 15,583 shares of the company’s stock worth $575,000 after buying an additional 660 shares during the period. AQR Capital Management LLC raised its holdings in shares of GlobalFoundries by 77.6% during the first quarter. AQR Capital Management LLC now owns 102,048 shares of the company’s stock valued at $3,679,000 after acquiring an additional 44,599 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of GlobalFoundries by 7,120.1% during the first quarter. Jones Financial Companies Lllp now owns 12,202 shares of the company’s stock valued at $450,000 after acquiring an additional 12,033 shares during the period. American Century Companies Inc. lifted its position in shares of GlobalFoundries by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 27,606 shares of the company’s stock valued at $1,055,000 after acquiring an additional 903 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in GlobalFoundries in the 2nd quarter worth approximately $269,000.

About GlobalFoundries

GlobalFoundries, Inc (NASDAQ: GFS) is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.

GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.