Zacks Research Upgrades GlobalFoundries (NASDAQ:GFS) to “Strong-Buy”

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

Several other research analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of GlobalFoundries from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald raised shares of GlobalFoundries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $50.00 to $80.00 in a research note on Monday, May 4th. Loop Capital set a $80.00 price objective on shares of GlobalFoundries in a research report on Monday, May 4th. Citigroup boosted their target price on shares of GlobalFoundries from $49.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Arete Research set a $95.00 target price on GlobalFoundries in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, GlobalFoundries currently has a consensus rating of “Hold” and an average price target of $74.62.

GlobalFoundries Trading Down 4.5%

GlobalFoundries stock opened at $65.84 on Monday. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.43 and a beta of 1.76. GlobalFoundries has a 1 year low of $31.51 and a 1 year high of $92.55. The firm’s 50 day moving average price is $76.99 and its two-hundred day moving average price is $55.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.87 and a current ratio of 2.59.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On GlobalFoundries

A number of hedge funds and other institutional investors have recently made changes to their positions in GFS. Aster Capital Management DIFC Ltd raised its position in GlobalFoundries by 844.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 62,593 shares of the company’s stock valued at $2,186,000 after acquiring an additional 55,967 shares in the last quarter. AXQ Capital LP grew its position in GlobalFoundries by 438.9% in the fourth quarter. AXQ Capital LP now owns 49,617 shares of the company’s stock worth $1,733,000 after acquiring an additional 40,410 shares in the last quarter. Monaco Asset Management SAM acquired a new position in shares of GlobalFoundries during the 4th quarter worth $6,984,000. UBS Group AG raised its holdings in shares of GlobalFoundries by 136.7% during the 4th quarter. UBS Group AG now owns 1,809,232 shares of the company’s stock valued at $63,178,000 after purchasing an additional 1,044,755 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of GlobalFoundries in the 4th quarter valued at $1,526,000.

GlobalFoundries Company Profile

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.