GlobalFoundries (NASDAQ:GFS) Downgraded to “Strong Sell” Rating by Zacks Research

GlobalFoundries (NASDAQ:GFS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on GFS. JPMorgan Chase & Co. reduced their price target on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 price objective on shares of GlobalFoundries in a report on Monday, October 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of GlobalFoundries in a research note on Wednesday, October 8th. Wedbush lowered shares of GlobalFoundries from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $40.00 in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of GlobalFoundries from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.46.

GlobalFoundries Stock Performance

GlobalFoundries stock opened at $36.87 on Thursday. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of -409.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.03 and a quick ratio of 2.24. The firm has a 50 day simple moving average of $35.77 and a 200-day simple moving average of $35.80. GlobalFoundries has a 1-year low of $29.77 and a 1-year high of $47.69.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Wednesday, November 12th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). GlobalFoundries had a negative net margin of 0.65% and a positive return on equity of 6.64%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. GlobalFoundries’s revenue for the quarter was down 2.9% compared to the same quarter last year. GlobalFoundries has set its Q4 2025 guidance at 0.420-0.520 EPS. On average, analysts expect that GlobalFoundries will post 1.31 EPS for the current year.

Hedge Funds Weigh In On GlobalFoundries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its position in shares of GlobalFoundries by 91.9% during the 3rd quarter. Clearstead Advisors LLC now owns 808 shares of the company’s stock worth $29,000 after buying an additional 387 shares during the last quarter. First Horizon Corp acquired a new stake in shares of GlobalFoundries during the third quarter worth about $33,000. Allworth Financial LP lifted its holdings in shares of GlobalFoundries by 85.5% in the 2nd quarter. Allworth Financial LP now owns 894 shares of the company’s stock valued at $34,000 after purchasing an additional 412 shares during the last quarter. IFP Advisors Inc boosted its position in shares of GlobalFoundries by 824.7% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the company’s stock valued at $38,000 after purchasing an additional 800 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new position in GlobalFoundries during the 3rd quarter worth approximately $43,000.

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.