GlobalFoundries (NASDAQ:GFS) Stock Price Up 6.6% - Here's What Happened

Key Points

• GlobalFoundries' stock price increased by 6.6%, reaching a closing price of $37.93 after trading as high as $38.32 on Monday. The stock saw a trading volume of 2,114,844 shares, slightly below its average.
• Analysts have mixed ratings on GlobalFoundries, with Citigroup raising their price target to $42.00 while Morgan Stanley lowered theirs to $35.00, reflecting a general consensus rating of "Hold" with a price target of $43.79.
• The company reported an earnings per share (EPS) of $0.42 for the last quarter, beating analyst expectations, and showed a revenue of $1.69 billion, indicating a 3.4% increase year-over-year.

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report)'s stock price shot up 6.6% on Monday . The company traded as high as $38.32 and last traded at $37.93. 2,114,844 shares were traded during mid-day trading, a decline of 4% from the average session volume of 2,200,945 shares. The stock had previously closed at $35.59.

Analyst Ratings Changes

Several research analysts have weighed in on GFS shares. Citigroup increased their price target on shares of GlobalFoundries from $35.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating in a research report on Monday, September 15th. Morgan Stanley decreased their price objective on shares of GlobalFoundries from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. UBS Group decreased their price objective on shares of GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group started coverage on shares of GlobalFoundries in a research report on Thursday, July 10th. They set a "neutral" rating and a $40.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, GlobalFoundries currently has a consensus rating of "Hold" and a consensus target price of $43.79.

GlobalFoundries Price Performance

The stock has a market cap of $20.46 billion, a price-to-earnings ratio of -176.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The stock's 50 day moving average price is $34.39 and its two-hundred day moving average price is $36.10. The company has a quick ratio of 1.92, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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 negative net margin of 1.68% and a positive return on equity of 6.55%. The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. GlobalFoundries has set its Q3 2025 guidance at 0.330-0.430 EPS. Equities research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On GlobalFoundries

Several hedge funds and other institutional investors have recently modified their holdings of GFS. Banque Cantonale Vaudoise acquired a new stake in shares of GlobalFoundries during the first quarter valued at about $33,000. Allworth Financial LP grew its holdings in shares of GlobalFoundries by 85.5% in the second quarter. Allworth Financial LP now owns 894 shares of the company's stock valued at $34,000 after purchasing an additional 412 shares in the last quarter. Signaturefd LLC grew its holdings in shares of 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. IFP Advisors Inc grew its holdings in shares of GlobalFoundries by 824.7% in the second quarter. IFP Advisors Inc now owns 897 shares of the company's stock valued at $38,000 after purchasing an additional 800 shares in the last quarter. Finally, Summit Securities Group LLC grew its holdings in shares of 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.

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.

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