Nuveen LLC Buys Shares of 230,979 GlobalFoundries Inc. $GFS

Key Points

• Nuveen LLC acquired 230,979 shares of GlobalFoundries Inc., worth approximately $8.5 million, indicating strong interest from institutional investors.
• Equities analysts have mixed outlooks on GlobalFoundries, with target prices ranging from $35.00 to $48.00, leading to an average rating of "Moderate Buy."
• GlobalFoundries reported earnings of $0.42 per share for its latest quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 3.4%.

Nuveen LLC bought a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 230,979 shares of the company's stock, valued at approximately $8,525,000.

A number of other hedge funds have also made changes to their positions in GFS. Renaissance Technologies LLC acquired a new position in shares of GlobalFoundries during the fourth quarter valued at approximately $1,004,000. Raymond James Financial Inc. acquired a new position in shares of GlobalFoundries during the fourth quarter valued at approximately $2,006,000. Mariner LLC raised its holdings in shares of GlobalFoundries by 5.5% during the fourth quarter. Mariner LLC now owns 8,111 shares of the company's stock valued at $348,000 after acquiring an additional 420 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of GlobalFoundries by 121.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 22,155 shares of the company's stock valued at $951,000 after acquiring an additional 12,142 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of GlobalFoundries by 17.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,187 shares of the company's stock valued at $1,339,000 after acquiring an additional 4,624 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GFS shares. Wedbush reduced their target price on GlobalFoundries from $48.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Citigroup increased their price target on GlobalFoundries from $35.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, July 7th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Morgan Stanley cut their price target on GlobalFoundries from $38.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Finally, UBS Group cut their price target on GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, GlobalFoundries has an average rating of "Moderate Buy" and an average target price of $44.92.

GlobalFoundries Trading Up 5.8%

Shares of GlobalFoundries stock opened at $34.49 on Friday. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of -164.23, a PEG ratio of 1.13 and a beta of 1.50. GlobalFoundries Inc. has a fifty-two week low of $29.77 and a fifty-two week 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 stock has a 50 day moving average of $37.46 and a 200 day moving average of $37.38.

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

About GlobalFoundries

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.

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