GlobalFoundries (NASDAQ:GFS) Stock Price Target Cut by TD Cowen

GlobalFoundries (NASDAQ:GFS) had its target price dropped by TD Cowen from $75.00 to $60.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price target would suggest a potential upside of 55.36% from the company’s current price.

A number of other research firms also recently commented on GFS. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of GlobalFoundries in a report on Monday, August 10th. Jefferies Financial Group reduced their target price on shares of GlobalFoundries from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday. Robert W. Baird set a $140.00 target price on shares of GlobalFoundries in a report on Thursday, August 6th. Needham & Company LLC dropped their target price on shares of GlobalFoundries from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BNP Paribas Exane downgraded GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research report on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.79.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock traded up $2.26 during midday trading on Thursday, hitting $38.62. The company had a trading volume of 5,023,286 shares, compared to its average volume of 5,924,218. The stock has a market cap of $21.19 billion, a PE ratio of 110.34, a P/E/G 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. The business’s 50 day simple moving average is $45.84 and its two-hundred day simple moving average is $54.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.48 and a quick ratio of 1.74.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business posted $0.44 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities analysts predict that GlobalFoundries will post 1.50 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Pradheepa Raman sold 6,760 shares of GlobalFoundries stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $51.12, for a total transaction of $345,571.20. The sale 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, Director Ganesh Moorthy bought 2,500 shares of GlobalFoundries stock in a transaction on Thursday, November 5th. The shares were acquired at an average price of $37.48 per share, for a total transaction of $93,700.00. Following the completion of the acquisition, the director owned 5,500 shares of the company’s stock, valued at approximately $206,140. This represents a 83.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 12,925 shares of company stock worth $633,881.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of GlobalFoundries during the third quarter worth $30,000. FNY Investment Advisers LLC bought a new stake in GlobalFoundries in the 2nd quarter valued at $60,000. Parallel Advisors LLC boosted its stake in GlobalFoundries by 39.8% in the 1st quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock worth $37,000 after purchasing an additional 237 shares during the period. Global Assets Advisory LLC acquired a new position in GlobalFoundries in the 1st quarter worth $53,000. Finally, Signaturefd LLC increased its holdings in GlobalFoundries by 22.3% during the 3rd quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock worth $66,000 after purchasing an additional 250 shares in the last quarter.

Key GlobalFoundries News

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

GlobalFoundries Company Profile

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.