On September 18, 2023, it was reported that Toroso Investments LLC had increased its stake in GLOBALFOUNDRIES Inc. by 12.1% during the first quarter. According to the company’s disclosure with the Securities & Exchange Commission, Toroso Investments LLC now owns 16,013 shares of GLOBALFOUNDRIES’ stock after acquiring an additional 1,725 shares in the quarter. The value of Toroso Investments LLC’s holdings in GLOBALFOUNDRIES is estimated to be worth $1,156,000 at the end of the most recent quarter.
GLOBALFOUNDRIES (NASDAQ:GFS) recently released its earnings results on August 8th. The company reported earnings per share of $0.45 for the quarter, surpassing the consensus estimate of $0.43 by $0.02. This demonstrates a positive performance for GLOBALFOUNDRIES in terms of profitability. The company also achieved a return on equity of 16.16% and a net margin of 19.07%. Furthermore, during this quarter, GLOBALFOUNDRIES generated $1.85 billion in revenue, slightly exceeding the consensus estimate of $1.83 billion.
As a semiconductor foundry operating throughout the world, GLOBALFOUNDRIES specializes in manufacturing various semiconductor devices including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units. Additionally, they provide mainstream wafer fabrication services and utilize advanced technologies.
With these recent developments in mind and considering their strong financial performance so far this year, equities analysts are anticipating that GLOBALFOUNDRIES Inc. will post an EPS (earnings per share) of 1.9 for the current fiscal year.
This news signifies not only an increase in investment from Toroso Investments LLC but also showcases GLOBALFOUNDRIES’ positive financial standing and its position as a prominent semiconductor foundry globally. As technology continues to advance and the demand for sophisticated semiconductor devices grows, GLOBALFOUNDRIES is well-positioned to capitalize on these opportunities and further solidify its presence in the industry.
GLOBALFOUNDRIES Inc.
GFS
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Make Notable Moves in GLOBALFOUNDRIES Stock as Analysts Provide Mixed Ratings
As of September 18, 2023, various institutional investors have made significant changes to their positions in GLOBALFOUNDRIES. Natixis acquired a new position in the company’s shares during the fourth quarter with a value of $38,000, while Belpointe Asset Management LLC also acquired a new position during the same period, worth $44,000. In the first quarter, Signaturefd LLC increased its stake in GLOBALFOUNDRIES by 283.0%, now owning 697 shares valued at $50,000 after purchasing an additional 515 shares. Similarly, Steward Partners Investment Advisory LLC saw a substantial increase of 79.3% in its stake during the first quarter and now owns 771 shares valued at $56,000 after purchasing an additional 341 shares. Finally, Ameritas Advisory Services LLC acquired a new position in GLOBALFOUNDRIES during the first quarter valued at $65,000. It is worth noting that institutional investors and hedge funds currently own approximately 14.76% of the company’s stock.
The opening price for NASDAQ GFS shares on Monday was noted as $58.08. GLOBALFOUNDRIES Inc.’s stock has seen a fluctuation between its lowest point over the last year at $46.52 and its highest point at $72.50 within the same time frame. The company also possesses a 50-day moving average of $59.32 and a 200-day moving average of $61.30.
GLOBALFOUNDRIES carries a debt-to-equity ratio of 0.24 and maintains a current ratio of 1.98 along with a quick ratio of 1.44 according to recent data analysis; these figures indicate the company’s financial stability and ability to meet short-term obligations efficiently.
With respect to market capitalization, GLOBALFOUNDRIES has reached an impressive figure of $31.81 billion as per latest reports available. Additionally, the company holds a price-to-earnings ratio of 21.43, reflecting its current stock price in relation to its earnings per share (EPS) value. The PEG ratio stands at 9.82, revealing the relationship between the company’s earnings growth rate and its current valuation. Furthermore, GLOBALFOUNDRIES demonstrates a beta of 1.88, indicating its volatility in comparison to the broader market.
Various research firms have recently provided their insight on GLOBALFOUNDRIES’ performance. Citigroup lowered their target price from $77.00 to $70.00 and maintained a “buy” rating for the company, as outlined in their research note on August 9th. Wedbush also reiterated an “outperform” rating and reduced their target price from $72.00 to $70.00 in their research note on the same day. Susquehanna decreased their price target from $84.00 to $82.00 and expressed a positive outlook for the company in their research report on August 4th. Bank of America also revised their price target downwards, going from $75.00 to $70.00 in their research report released on August 9th.
Despite these revisions, Morgan Stanley lowered their price target from $80.00 to $73.00 but still maintained an “overweight” rating for the company in their research report released on August 9th.
According to Bloomberg.com data, one equities research analyst has provided a hold rating for GLOBALFOUNDRIES stock, while thirteen analysts have assigned it a buy rating.
For further information and analysis on GLOBALFOUNDRIES and its performance, please refer to our latest detailed report on GFS.
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