Globalfoundries Inc (NASDAQ:GFS) reported upbeat fiscal first-quarter 2026 results on Tuesday.

The company reported a revenue of $1.634 billion, up 3% year-over-year, topping the analyst consensus estimate of $1.627 billion. The contract chipmaker's adjusted EPS of 40 cents beat the analyst consensus estimate of 34 cents.

GlobalFoundries expects second-quarter revenue of $1.735 billion-$1.785 billion versus the $1.743 billion analyst consensus estimate. The company expects adjusted EPS of 38 cents to 48 cents versus the 40 cents analyst consensus estimate.

“GF delivered strong results in the first quarter, with all of our Non-IFRS profitability metrics at or above the high end of the respective guidance ranges,” said Tim Breen, CEO of GlobalFoundries. “Thanks to the excellent execution from our teams around the world and the relentless focus on delivering for our customers, GF made significant traction in secular growth end markets where our differentiated technology drives share growth and outsized value creation.”

GlobalFoundries shares fell 4.3% to trade at $70.87 on Wednesday.

These analysts made changes to their price targets on GlobalFoundries following earnings announcement.

• Susquehanna analyst Mehdi Hosseini upgraded the stock from Neutral to Positive and raised the price target from $50 to $100.
• Morgan Stanley analyst Joseph Moore maintained the stock with an Equal-Weight rating and raised the price target from $58 to $65.

Considering buying GFS stock? Here’s what analysts think:

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