GlobalFoundries (NASDAQ:GFS) Upgraded to Strong-Buy at Zacks Research

GlobalFoundries (NASDAQ:GFS) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

GFS has been the topic of several other research reports. Citigroup lifted their target price on shares of GlobalFoundries from $49.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Evercore reiterated an “outperform” rating and issued a $85.00 price objective on shares of GlobalFoundries in a research note on Tuesday, May 19th. Arete Research set a $95.00 target price on GlobalFoundries in a research note on Wednesday, June 10th. Susquehanna lifted their price target on GlobalFoundries to $125.00 and gave the stock a “positive” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $70.00 price target on shares of GlobalFoundries in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.62.

GlobalFoundries Stock Down 4.5%

Shares of GlobalFoundries stock opened at $65.84 on Monday. GlobalFoundries has a 12-month low of $31.51 and a 12-month high of $92.55. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $76.99 and a two-hundred day moving average price of $55.92. The stock has a market capitalization of $36.13 billion, a P/E ratio of 47.37, a PEG ratio of 2.43 and a beta of 1.76.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. GlobalFoundries had a net margin of 11.40% and a return on equity of 6.85%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. GlobalFoundries has set its Q2 2026 guidance at 0.250-0.350 EPS. Equities analysts expect that GlobalFoundries will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael James Hogan sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $83.53, for a total transaction of $233,884.00. Following the sale, the insider directly owned 3,745 shares in the company, valued at approximately $312,819.85. The trade was a 42.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 335 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $77.36, for a total value of $25,915.60. Following the completion of the transaction, the insider owned 13,149 shares of the company’s stock, valued at $1,017,206.64. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,845 shares of company stock valued at $1,574,282 in the last quarter.

Hedge Funds Weigh In On GlobalFoundries

A number of hedge funds and other institutional investors have recently made changes to their positions in GFS. Bessemer Group Inc. raised its holdings in shares of GlobalFoundries by 8,275,141.2% in the 1st quarter. Bessemer Group Inc. now owns 2,813,582 shares of the company’s stock worth $125,147,000 after buying an additional 2,813,548 shares in the last quarter. HRT Financial LP acquired a new stake in GlobalFoundries in the 4th quarter valued at $62,996,000. AQR Capital Management LLC boosted its stake in GlobalFoundries by 168.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,607,792 shares of the company’s stock valued at $93,463,000 after buying an additional 1,635,338 shares in the last quarter. Marshall Wace LLP grew its position in GlobalFoundries by 126.0% in the fourth quarter. Marshall Wace LLP now owns 2,382,003 shares of the company’s stock valued at $83,180,000 after acquiring an additional 1,328,129 shares during the period. Finally, UBS Group AG raised its stake in GlobalFoundries by 136.7% during the fourth quarter. UBS Group AG now owns 1,809,232 shares of the company’s stock worth $63,178,000 after acquiring an additional 1,044,755 shares in the last quarter.

About GlobalFoundries

GlobalFoundries, Inc (NASDAQ: GFS) is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.

GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.