GlobalFoundries (NASDAQ:GFS) Cut to “Neutral” at Wedbush

Wedbush lowered shares of GlobalFoundries (NASDAQ:GFS) from an outperform rating to a neutral rating in a research report released on Wednesday, Marketbeat Ratings reports. The firm currently has $40.00 target price on the stock, down from their prior target price of $42.00.

GFS has been the topic of several other research reports. Citigroup lowered their price target on GlobalFoundries from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. Bank of America upped their price objective on shares of GlobalFoundries from $33.00 to $37.00 and gave the stock an “underperform” rating in a report on Thursday, December 4th. Evercore ISI raised their target price on shares of GlobalFoundries from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 target price on shares of GlobalFoundries in a report on Monday, October 27th. Finally, Wall Street Zen cut shares of GlobalFoundries from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.46.

GlobalFoundries Price Performance

NASDAQ GFS opened at $36.87 on Wednesday. GlobalFoundries has a fifty-two week low of $29.77 and a fifty-two week high of $47.69. The stock’s 50-day moving average is $35.77 and its two-hundred day moving average is $35.80. The firm has a market cap of $20.39 billion, a P/E ratio of -409.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.03 and a quick ratio of 2.24.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). GlobalFoundries had a positive return on equity of 6.64% and a negative net margin of 0.65%.The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company posted $0.41 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. GlobalFoundries has set its Q4 2025 guidance at 0.420-0.520 EPS. On average, analysts anticipate that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GlobalFoundries

Several hedge funds have recently made changes to their positions in GFS. Allworth Financial LP grew its position in GlobalFoundries by 151.0% during the third quarter. Allworth Financial LP now owns 2,244 shares of the company’s stock worth $80,000 after buying an additional 1,350 shares in the last quarter. IFP Advisors Inc lifted its position in shares of GlobalFoundries by 176.0% in the 3rd quarter. IFP Advisors Inc now owns 2,476 shares of the company’s stock worth $89,000 after acquiring an additional 1,579 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $728,000. Advisory Services Network LLC acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $53,000. Finally, Eaton Financial Holdings Company LLC increased its position in shares of GlobalFoundries by 373.3% during the third quarter. Eaton Financial Holdings Company LLC now owns 53,335 shares of the company’s stock valued at $1,912,000 after purchasing an additional 42,067 shares during the period.

GlobalFoundries Company Profile

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.