GlobalFoundries (NASDAQ:GFS) Stock Gets Price Target Cut from TD Cowen

GlobalFoundries (NASDAQ:GFS) had its target price trimmed by TD Cowen from $75.00 to $60.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus began coverage on GlobalFoundries in a research note on Tuesday, September 1st. They issued a “buy” rating and a $60.00 price target for the company. UBS Group dropped their price objective on GlobalFoundries from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on GlobalFoundries in a report on Monday, August 10th. Susquehanna reduced their price objective on GlobalFoundries from $125.00 to $110.00 and set a “positive” rating for the company in a report on Thursday. Finally, Needham & Company LLC decreased their target price on GlobalFoundries from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.79.

GlobalFoundries Price Performance

Shares of GFS opened at $38.62 on Thursday. The company has a market capitalization of $21.19 billion, a P/E ratio of 110.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.78. The company has a quick ratio of 1.74, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $45.84 and a 200 day moving average of $54.88. GlobalFoundries has a twelve month low of $32.02 and a twelve month high of $92.55.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. GlobalFoundries had a net margin of 2.81% and a return on equity of 7.16%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. As a group, equities research analysts anticipate that GlobalFoundries will post 1.50 earnings per share for the current fiscal year.

GlobalFoundries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Tuesday, December 22nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 22nd. GlobalFoundries’s payout ratio is 137.14%.

Insiders Place Their Bets

In other GlobalFoundries news, insider Pradheepa Raman sold 2,145 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $48.83, for a total transaction of $104,740.35. Following the completion of the sale, the insider directly owned 2,145 shares in the company, valued at approximately $104,740.35. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ganesh Moorthy purchased 2,500 shares of the stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $37.48 per share, for a total transaction of $93,700.00. Following the completion of the acquisition, the director directly owned 5,500 shares in the company, valued at approximately $206,140. This trade represents a 83.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 12,925 shares of company stock valued at $633,881.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GFS. Diversified Trust Co lifted its position in GlobalFoundries by 12.0% during the third quarter. Diversified Trust Co now owns 10,323 shares of the company’s stock valued at $495,000 after purchasing an additional 1,105 shares in the last quarter. Aberdeen Group plc grew its holdings in GlobalFoundries by 2,795.1% during the third quarter. Aberdeen Group plc now owns 85,956 shares of the company’s stock valued at $4,119,000 after purchasing an additional 82,987 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in GlobalFoundries during the third quarter valued at about $354,000. Machina Capital S.A.S. increased its position in GlobalFoundries by 36.4% in the third quarter. Machina Capital S.A.S. now owns 27,755 shares of the company’s stock worth $1,330,000 after buying an additional 7,408 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new stake in GlobalFoundries in the third quarter worth about $1,497,000.

Trending Headlines about GlobalFoundries

Here are the key news stories impacting GlobalFoundries this week:

• Positive Sentiment: A Seeking Alpha article highlights improving margins and commitments that could support future growth. Another report points to a record third-quarter margin, suggesting operational progress. Margins Improve As GlobalFoundries Secures Commitments For Future Growth GlobalFoundries stock: Company posts record Q3 margin
• Positive Sentiment: TD Cowen cut its target to $60 from $75 but kept a Buy rating, while Susquehanna lowered its target to $110 from $125 and retained a positive rating. TD Cowen price-target update Susquehanna price-target update
• Neutral Sentiment: UBS, JPMorgan, and Citi lowered their targets to $43, $50, and $46, respectively, and maintained Neutral ratings. Their targets still imply potential upside from the cited $38.62 share price, but the cuts signal reduced expectations. UBS rating update JPMorgan rating update Citi rating update
• Negative Sentiment: Wedbush made a particularly steep reduction, cutting its target to $45 from $72 and citing a lower valuation multiple. The broader wave of target cuts—including reductions from Citi, JPMorgan, UBS, and TD Cowen—could reinforce concerns about GFS’s near-term valuation and outlook. Wedbush cuts GlobalFoundries price target

GlobalFoundries Company Profile

GlobalFoundries is a semiconductor foundry that manufactures integrated circuits for customers that design their own chips. Its services include wafer fabrication, process technology development, packaging support and design enablement, helping customers bring semiconductor products to market without operating their own fabrication facilities.

The company focuses on specialty technologies used in areas such as automotive electronics, communications, industrial systems, smart devices and data centers.