GlobalFoundries (NASDAQ:GFS) Releases Q4 Earnings Guidance

GlobalFoundries (NASDAQ:GFS) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.39-0.51 for the period, compared to the consensus EPS estimate of $0.38. The company issued revenue guidance of $1.80-1.85 billion, compared to the consensus revenue estimate of $1.80 billion. GlobalFoundries also updated its Q4 2024 guidance to 0.390-0.510 EPS.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. TD Cowen cut their target price on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley downgraded GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Evercore ISI cut their price target on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, GlobalFoundries presently has a consensus rating of “Hold” and a consensus target price of $54.85.

GlobalFoundries Stock Down 1.7 %

GFS stock opened at $36.01 on Tuesday. The firm has a market capitalization of $19.87 billion, a PE ratio of 24.50, a P/E/G ratio of 5.92 and a beta of 1.53. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. GlobalFoundries has a twelve month low of $35.85 and a twelve month high of $62.61. The stock’s 50 day moving average is $40.42 and its 200-day moving average is $46.57.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.10. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. Sell-side analysts expect that GlobalFoundries will post 1.09 EPS for the current fiscal year.

GlobalFoundries Company Profile

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.