GlobalFoundries (NASDAQ:GFS) Issues Earnings Results

GlobalFoundries (NASDAQ:GFS) issued its quarterly earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07), Zacks reports. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. GlobalFoundries updated its Q1 2025 guidance to 0.240-0.340 EPS.

GlobalFoundries Stock Up 6.3 %

GFS opened at $40.10 on Wednesday. GlobalFoundries has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The firm has a market capitalization of $22.13 billion, a P/E ratio of 29.93, a PEG ratio of 8.23 and a beta of 1.56. The company’s 50-day moving average is $42.48 and its 200 day moving average is $42.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GFS shares. Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $53.00 to $43.00 in a research report on Monday, October 28th. Citigroup dropped their price target on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday. Robert W. Baird decreased their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI cut their target price on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.20.

About GlobalFoundries

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.