GlobalFoundries (NASDAQ:GFS – Free Report) had its target price decreased by JPMorgan Chase & Co. from $57.00 to $50.00 in a research report report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
GFS has been the subject of a number of other reports. BNP Paribas Exane cut GlobalFoundries from an “outperform” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Monday, October 5th. TD Cowen dropped their price target on GlobalFoundries from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Research lowered GlobalFoundries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Citigroup reduced their price objective on GlobalFoundries from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of GlobalFoundries in a research report on Thursday, October 15th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.79.
Get Our Latest Report on GlobalFoundries
GlobalFoundries Stock Performance
Shares of GFS opened at $38.62 on Thursday. The firm has a market cap of $21.19 billion, a P/E ratio of 110.34, a PEG ratio of 1.27 and a beta of 1.78. GlobalFoundries has a twelve month low of $32.02 and a twelve month high of $92.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 2.58. The firm’s 50 day moving average price is $45.84 and its two-hundred day moving average price is $54.88.
GlobalFoundries (NASDAQ:GFS – Get Free Report) last issued its quarterly earnings data 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 2.81% and a return on equity of 7.16%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, analysts forecast that GlobalFoundries will post 1.50 EPS for the current fiscal year.
GlobalFoundries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s dividend payout ratio (DPR) is currently 137.14%.
Insider Activity at GlobalFoundries
In related news, insider Pradheepa Raman sold 6,760 shares of GlobalFoundries stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $51.12, for a total value of $345,571.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ganesh Moorthy acquired 2,500 shares of the stock in a transaction on Thursday, November 5th. The shares were purchased at an average price of $37.48 per share, with a total value of $93,700.00. Following the completion of the transaction, the director owned 5,500 shares of the company’s stock, valued at approximately $206,140. This represents a 83.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 12,925 shares of company stock valued at $633,881 over the last 90 days.
Hedge Funds Weigh In On GlobalFoundries
Several hedge funds and other institutional investors have recently modified their holdings of GFS. PNC Financial Services Group Inc. grew its stake in shares of GlobalFoundries by 8.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,954 shares of the company’s stock worth $87,000 after acquiring an additional 154 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of GlobalFoundries by 39.8% in the first quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock valued at $37,000 after acquiring an additional 237 shares in the last quarter. Signaturefd LLC grew its holdings in shares of GlobalFoundries by 22.3% in the third quarter. Signaturefd LLC now owns 1,370 shares of the company’s stock valued at $66,000 after acquiring an additional 250 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of GlobalFoundries by 4.7% in the third quarter. Commonwealth Equity Services LLC now owns 5,751 shares of the company’s stock valued at $276,000 after acquiring an additional 258 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of GlobalFoundries by 5.3% during the first quarter. California State Teachers Retirement System now owns 6,735 shares of the company’s stock valued at $300,000 after acquiring an additional 340 shares during 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
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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