FY2025 EPS Estimates for GlobalFoundries Boosted by Analyst

Key Points

• Analysts at Cantor Fitzgerald raised their FY2025 earnings per share estimate for GlobalFoundries to $1.37 from a previous estimate of $1.34.
• GlobalFoundries' recent quarterly earnings report showed an EPS of $0.42, exceeding analysts' expectations of $0.36, with revenue of $1.69 billion.
• Several analysts have adjusted their price targets for GlobalFoundries; for instance, Wedbush lowered its target from $48 to $40 while UBS reduced it from $43 to $37.

GlobalFoundries Inc. (NASDAQ:GFS - Free Report) - Research analysts at Cantor Fitzgerald raised their FY2025 earnings per share (EPS) estimates for shares of GlobalFoundries in a report released on Wednesday, August 6th. Cantor Fitzgerald analyst C. Muse now forecasts that the company will post earnings per share of $1.37 for the year, up from their prior estimate of $1.34. Cantor Fitzgerald currently has a "Neutral" rating on the stock. The consensus estimate for GlobalFoundries' current full-year earnings is $1.31 per share.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. GlobalFoundries had a positive return on equity of 6.55% and a negative net margin of 1.68%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $0.38 EPS. The business's revenue was up 3.4% compared to the same quarter last year.

Several other brokerages also recently weighed in on GFS. UBS Group dropped their target price on GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen downgraded GlobalFoundries from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley dropped their target price on GlobalFoundries from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group started coverage on GlobalFoundries in a research note on Thursday, July 10th. They set a "neutral" rating and a $40.00 target price on the stock. Finally, Citigroup boosted their target price on GlobalFoundries from $35.00 to $42.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, GlobalFoundries presently has a consensus rating of "Hold" and an average price target of $44.92.

GlobalFoundries Stock Up 3.6%

Shares of NASDAQ:GFS traded up $1.14 on Friday, reaching $32.76. The company had a trading volume of 1,486,392 shares, compared to its average volume of 2,080,236. GlobalFoundries has a 52-week low of $29.77 and a 52-week high of $47.69. The firm's 50 day simple moving average is $38.29 and its 200-day simple moving average is $37.85. The firm has a market capitalization of $18.11 billion, a PE ratio of -155.95, a PEG ratio of 1.05 and a beta of 1.50. The company has a current ratio of 2.63, a quick ratio of 1.92 and a debt-to-equity ratio of 0.13.

Institutional Trading of GlobalFoundries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GFS. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of GlobalFoundries by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 126,266 shares of the company's stock valued at $4,660,000 after buying an additional 17,143 shares during the period. Geode Capital Management LLC lifted its holdings in shares of GlobalFoundries by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock valued at $39,176,000 after buying an additional 16,921 shares during the period. Sei Investments Co. lifted its holdings in shares of GlobalFoundries by 7.6% in the 4th quarter. Sei Investments Co. now owns 9,495 shares of the company's stock valued at $407,000 after buying an additional 667 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of GlobalFoundries by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 907,446 shares of the company's stock valued at $33,476,000 after buying an additional 79,670 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of GlobalFoundries in the 4th quarter valued at about $1,004,000.

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.