TD Cowen Cuts GlobalFoundries (NASDAQ:GFS) Price Target to $75.00

GlobalFoundries (NASDAQ:GFS) had its price target lowered by TD Cowen from $85.00 to $75.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the company. Zacks Research downgraded GlobalFoundries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Citigroup raised their price target on shares of GlobalFoundries from $49.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Jefferies Financial Group set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of GlobalFoundries from $45.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Susquehanna increased their target price on shares of GlobalFoundries to $125.00 and gave the stock a “positive” rating in a research report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.12.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $53.93 on Thursday. 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 2.48 and a debt-to-equity ratio of 0.13. The stock has a market cap of $29.59 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.80. The business has a fifty day simple moving average of $69.11 and a 200-day simple moving average of $58.81.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. GlobalFoundries had a return on equity of 6.69% and a net margin of 10.36%.GlobalFoundries’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. On average, sell-side analysts anticipate that GlobalFoundries will post 1.39 EPS for the current fiscal year.

GlobalFoundries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 23rd. GlobalFoundries’s dividend payout ratio (DPR) is 37.50%.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 4,000 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $58.22, for a total transaction of $232,880.00. Following the completion of the sale, the director owned 14,867 shares in the company, valued at approximately $865,556.74. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samak L. Azar sold 335 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $77.36, for a total value of $25,915.60. Following the transaction, the insider directly owned 13,149 shares in the company, valued at approximately $1,017,206.64. This represents a 2.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,950 shares of company stock valued at $1,375,905 over the last quarter.

Hedge Funds Weigh In On GlobalFoundries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. bought a new stake in shares of GlobalFoundries during the 2nd quarter worth $207,000. FNY Investment Advisers LLC acquired a new position in GlobalFoundries during the 2nd quarter worth $60,000. CoreCap Advisors LLC lifted its position in GlobalFoundries by 41,500.0% during the 2nd quarter. CoreCap Advisors LLC now owns 2,912 shares of the company’s stock worth $240,000 after acquiring an additional 2,905 shares during the last quarter. Meadowbrook Wealth Management LLC bought a new stake in GlobalFoundries during the second quarter valued at about $488,000. Finally, Parallel Advisors LLC boosted its holdings in GlobalFoundries by 39.8% during the first quarter. Parallel Advisors LLC now owns 832 shares of the company’s stock valued at $37,000 after acquiring an additional 237 shares during the period.

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.