GlobalFoundries (NASDAQ:GFS) Upgraded by Arete Research to "Hold" Rating

Key Points

• GlobalFoundries has been upgraded to a "hold" rating by Arete Research, reflecting cautious optimism regarding the company's stock performance.
• Despite mixed ratings from various analysts, GlobalFoundries has a consensus target price of $43.79, with six analysts recommending a buy and eight maintaining a hold rating.
• The company reported an EPS of $0.42 for the most recent quarter, exceeding expectations and marking a year-over-year revenue increase of 3.4%.

GlobalFoundries (NASDAQ:GFS - Get Free Report) was upgraded by Arete Research to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Arete upgraded GlobalFoundries from a "sell" rating to a "neutral" rating and set a $37.00 price objective on the stock in a research note on Wednesday, August 27th. Wedbush reduced their target price on GlobalFoundries from $48.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen raised GlobalFoundries from a "hold" rating to a "buy" rating in a report on Saturday. Argus started coverage on GlobalFoundries in a research report on Tuesday, July 1st. They set a "buy" rating and a $52.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $43.79.

GlobalFoundries Trading Down 0.7%

GFS stock traded down $0.23 during midday trading on Wednesday, hitting $33.16. 2,168,877 shares of the company's stock were exchanged, compared to its average volume of 2,824,997. The company has a market cap of $18.33 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.09 and a beta of 1.48. The stock's fifty day moving average price is $36.91 and its 200-day moving average price is $37.05. GlobalFoundries has a one year low of $29.77 and a one 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.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $1.69 billion for 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 company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. GlobalFoundries has set its Q3 2025 guidance at 0.330-0.430 EPS. Research analysts predict that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GlobalFoundries

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its position in shares of GlobalFoundries by 26.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company's stock worth $57,000 after acquiring an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of GlobalFoundries by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,744 shares of the company's stock worth $372,000 after acquiring an additional 324 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of GlobalFoundries by 2.9% during the first quarter. Voya Investment Management LLC now owns 12,288 shares of the company's stock worth $454,000 after acquiring an additional 346 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of GlobalFoundries by 5.7% during the second quarter. California State Teachers Retirement System now owns 6,480 shares of the company's stock worth $248,000 after acquiring an additional 347 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of GlobalFoundries by 51.3% during the first quarter. Signaturefd LLC now owns 1,026 shares of the company's stock worth $38,000 after acquiring an additional 348 shares in the last quarter.

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.