GlobalFoundries (NASDAQ:GFS) Upgraded at Arete

Key Points

• GlobalFoundries has been upgraded by Arete from a "sell" to a "neutral" rating, with a price target of $37.00, indicating a potential upside of 9.44% from its previous close.
• The company recently reported earnings of $0.42 per share, surpassing the consensus estimate of $0.36, with a revenue of $1.69 billion for the quarter.
• Analysts currently have a consensus rating of "Hold" for GlobalFoundries, with six analysts issuing a buy rating and seven a hold rating, alongside an average price target of $43.79.

GlobalFoundries (NASDAQ:GFS - Get Free Report) was upgraded by investment analysts at Arete from a "sell" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday,Finviz reports. The brokerage currently has a $37.00 price objective on the stock. Arete's price target would indicate a potential upside of 9.44% from the company's previous close.

A number of other brokerages have also recently issued reports on GFS. Argus initiated coverage on GlobalFoundries in a report on Tuesday, July 1st. They issued a "buy" rating and a $52.00 target price on the stock. Wall Street Zen cut GlobalFoundries from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wedbush cut 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. Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Finally, 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 price objective on the stock. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, GlobalFoundries has a consensus rating of "Hold" and an average price target of $43.79.

GlobalFoundries Stock Performance

GlobalFoundries stock opened at $33.81 on Wednesday. The business has a 50 day moving average of $37.34 and a 200-day moving average of $37.32. GlobalFoundries 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 current ratio of 2.63 and a quick ratio of 1.92. The company has a market capitalization of $18.69 billion, a P/E ratio of -160.99, a P/E/G ratio of 1.12 and a beta of 1.50.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its 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 business had revenue of $1.69 billion for the quarter, compared to analysts' expectations 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 was up 3.4% on a year-over-year basis. 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. On average, equities research analysts predict that GlobalFoundries will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On GlobalFoundries

Several large investors have recently made changes to their positions in GFS. Renaissance Technologies LLC purchased a new stake in shares of GlobalFoundries during the 4th quarter valued at $1,004,000. Raymond James Financial Inc. purchased a new stake in shares of GlobalFoundries during the 4th quarter valued at $2,006,000. Mariner LLC increased its position in shares of GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company's stock valued at $348,000 after purchasing an additional 420 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in GlobalFoundries by 17.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,187 shares of the company's stock worth $1,339,000 after acquiring an additional 4,624 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in GlobalFoundries by 5.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock worth $106,124,000 after acquiring an additional 132,634 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.