GlobalFoundries (NASDAQ:GFS – Get Free Report) had its price target lowered by Wedbush from $72.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush‘s target price would suggest a potential upside of 16.52% from the stock’s previous close.
A number of other equities analysts also recently commented on GFS. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on GlobalFoundries in a report on Monday, August 10th. BNP Paribas Exane cut shares of GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 target price for the company. in a research note on Monday, October 5th. UBS Group decreased their target price on shares of GlobalFoundries from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus began coverage on shares of GlobalFoundries in a research report on Tuesday, September 1st. They issued a “buy” rating and a $60.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of GlobalFoundries in a research note on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.79.
GlobalFoundries Stock Up 6.2%
GFS stock traded up $2.26 during mid-day trading on Thursday, hitting $38.62. The stock had a trading volume of 5,023,286 shares, compared to its average volume of 5,924,218. The company has a current ratio of 2.48, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. GlobalFoundries has a 1-year low of $32.02 and a 1-year high of $92.55. The company has a fifty day moving average of $45.84 and a 200 day moving average of $54.88. The stock has a market capitalization of $21.19 billion, a price-to-earnings ratio of 110.34, a PEG ratio of 1.33 and a beta of 1.78.
GlobalFoundries (NASDAQ:GFS – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. On average, equities analysts expect that GlobalFoundries will post 1.50 EPS for the current fiscal year.
Insider Transactions at GlobalFoundries
In related news, insider Pradheepa Raman sold 6,760 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $51.12, for a total value of $345,571.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ganesh Moorthy bought 2,500 shares of GlobalFoundries stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $37.48 per share, with a total value of $93,700.00. Following the completion of the acquisition, the director owned 5,500 shares in the company, valued at approximately $206,140. The trade was a 83.33% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 12,925 shares of company stock worth $633,881.
Institutional Investors Weigh In On GlobalFoundries
A number of large investors have recently added to or reduced their stakes in GFS. Bessemer Group Inc. grew its holdings in GlobalFoundries by 8,275,141.2% during the first quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company’s stock valued at $125,147,000 after purchasing an additional 2,813,548 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of GlobalFoundries by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,340,385 shares of the company’s stock valued at $59,571,000 after purchasing an additional 31,590 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of GlobalFoundries in the third quarter worth $40,775,000. Bank of America Corp DE lifted its stake in shares of GlobalFoundries by 106.1% in the first quarter. Bank of America Corp DE now owns 875,361 shares of the company’s stock worth $38,936,000 after buying an additional 450,722 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of GlobalFoundries by 322.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 715,000 shares of the company’s stock worth $31,803,000 after buying an additional 545,900 shares during the period.
Key Headlines Impacting GlobalFoundries
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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