GlobalFoundries (NASDAQ:GFS) Given New $45.00 Price Target at Wedbush

Key Points

• Wedbush cut its GlobalFoundries price target to $45 from $72 and maintained a neutral rating, implying 11.55% upside from the previous close.
• Analyst sentiment is mixed but averages to “Hold”: eight analysts rate the stock Buy, 11 Hold, and one Sell, with an average price target of $71.53.
• GlobalFoundries beat quarterly estimates, reporting EPS of $0.53 versus $0.51 expected and revenue of $1.90 billion versus $1.89 billion; revenue rose 12.5% year over year.

GlobalFoundries (NASDAQ:GFS - Get Free Report) had its target price dropped by investment analysts at Wedbush from $72.00 to $45.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Wedbush's price target would suggest a potential upside of 11.55% from the company's previous close.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a "hold (c)" rating on shares of GlobalFoundries in a research report on Wednesday, August 26th. TD Cowen reaffirmed a "buy" rating and issued a $75.00 price objective on shares of GlobalFoundries in a research note on Thursday, October 15th. Deutsche Bank Aktiengesellschaft set a $75.00 target price on GlobalFoundries in a research note on Monday, August 10th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $50.00 price objective on shares of GlobalFoundries in a research note on Wednesday. Finally, Zacks Research cut GlobalFoundries from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, GlobalFoundries currently has an average rating of "Hold" and an average price target of $71.53.

GlobalFoundries Stock Down 5.9%

Shares of NASDAQ:GFS opened at $40.34 on Thursday. GlobalFoundries has a 52-week low of $32.02 and a 52-week high of $92.55. The company has a market capitalization of $22.13 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.36 and a beta of 1.78. The stock's fifty day simple moving average is $46.18 and its 200-day simple moving average is $54.93. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%. The firm's revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities research analysts forecast that GlobalFoundries will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Pradheepa Raman sold 6,760 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $51.12, for a total transaction of $345,571.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,590 shares of company stock worth $620,877 over the last three months.

Institutional Investors Weigh In On GlobalFoundries

Several large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its holdings in shares of GlobalFoundries by 8,275,141.2% in the first quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company's stock worth $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 1st quarter. Dimensional Fund Advisors LP now owns 1,340,385 shares of the company's stock worth $59,571,000 after purchasing an additional 31,590 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in GlobalFoundries in the 3rd quarter valued at approximately $40,775,000. Bank of America Corp DE raised its position in GlobalFoundries by 106.1% in the 1st 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 raised its stake in 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 valued at $31,803,000 after buying an additional 545,900 shares during the last quarter.

More GlobalFoundries News

Here are the key news stories impacting GlobalFoundries this week:

• Positive Sentiment: Q3 adjusted earnings were $0.53 per share, above the $0.51 consensus and up from $0.44 a year earlier. Revenue of $1.90 billion also topped estimates of $1.89 billion and grew 12.5% year over year. GlobalFoundries Q3 2026 results
• Positive Sentiment: A report highlighted a record Q3 margin, which may reinforce the earnings beat’s signal of improving profitability. GlobalFoundries posts record Q3 margin
• Negative Sentiment: Susquehanna cut its price target from $125 to $110, while retaining a positive rating. Needham lowered its target from $80 to $55 but kept a buy rating. The reductions suggest more cautious expectations, even though both firms remain bullish. Susquehanna recommendations Needham recommendations

GlobalFoundries Company Profile

GlobalFoundries Inc NASDAQ: GFS is a semiconductor manufacturer that operates as a contract foundry, producing chips designed by other companies. The company provides wafer fabrication and related services for customers in the automotive, communications infrastructure, aerospace and defense, industrial, and consumer electronics markets.

GlobalFoundries specializes in differentiated semiconductor technologies rather than competing primarily in the most advanced logic-processing nodes. Its offerings include radio-frequency and silicon-on-insulator technologies, embedded memory, power-management solutions, high-voltage processes, silicon photonics, and other specialty platforms used in connectivity, sensing, automotive electronics, and edge-computing applications.

The company was established in 2009 through the separation of Advanced Micro Devices' manufacturing operations, with investment from the Abu Dhabi-based Advanced Technology Investment Company.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.