Gabelli Funds LLC Acquires 18,000 Shares of GlobalFoundries Inc. $GFS

Key Points

• Gabelli Funds LLC increased its stock position in GlobalFoundries Inc. by 173.5% during the first quarter, owning a total of 28,373 shares worth approximately $1,047,000.
• Analysts have mixed views on the stock, with Wall Street Zen upgrading GlobalFoundries to a "buy" rating, while Morgan Stanley and Wedbush lowered their price targets significantly.
• GlobalFoundries reported a quarterly earnings per share of $0.42, beating expectations, and its revenue of $1.69 billion marked a 3.4% increase year-over-year.

Gabelli Funds LLC boosted its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 173.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,373 shares of the company's stock after purchasing an additional 18,000 shares during the quarter. Gabelli Funds LLC's holdings in GlobalFoundries were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GFS. Banque Cantonale Vaudoise purchased a new stake in GlobalFoundries in the first quarter valued at approximately $33,000. Signaturefd LLC raised its stake in GlobalFoundries by 51.3% in the first quarter. Signaturefd LLC now owns 1,026 shares of the company's stock valued at $38,000 after purchasing an additional 348 shares in the last quarter. Summit Securities Group LLC raised its stake in GlobalFoundries by 142.2% in the first quarter. Summit Securities Group LLC now owns 1,298 shares of the company's stock valued at $48,000 after purchasing an additional 762 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of GlobalFoundries by 26.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company's stock worth $57,000 after purchasing an additional 320 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of GlobalFoundries in the 1st quarter worth about $102,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GFS shares. UBS Group cut their price objective on GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Wall Street Zen raised shares of GlobalFoundries from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Argus assumed coverage on shares of GlobalFoundries in a research note on Tuesday, July 1st. They set a "buy" rating and a $52.00 price target on the stock. Citigroup lifted their price target on shares of GlobalFoundries from $35.00 to $42.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Finally, Arete Research set a $37.00 price target on shares of GlobalFoundries in a research note on Wednesday, August 27th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $43.79.

GlobalFoundries Trading Up 0.3%

Shares of NASDAQ GFS traded up $0.09 during mid-day trading on Friday, hitting $33.42. The stock had a trading volume of 712,261 shares, compared to its average volume of 2,097,190. The business has a 50 day moving average price of $36.70 and a two-hundred day moving average price of $36.95. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $47.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.92 and a current ratio of 2.63. The firm has a market cap of $18.48 billion, a P/E ratio of -159.13, a price-to-earnings-growth ratio of 1.08 and a beta of 1.48.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.68 billion. GlobalFoundries had a negative net margin of 1.68% and a positive return on equity of 6.55%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. GlobalFoundries has set its Q3 2025 guidance at 0.330-0.430 EPS. On average, equities analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

GlobalFoundries Company Profile

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.