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Why GLOBALFOUNDRIES (GFS) Stock Might be a Great Pick

GLOBALFOUNDRIES (GFS) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

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This story originally appeared on Zacks

One stock that might be an intriguing choice for investors right now is GLOBALFOUNDRIES Inc. GFS. This is because this security in the Electronics – Semiconductors space is seeing solid earnings estimate revision activity and is in great company from a Zacks Industry Rank perspective.

- Zacks

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Electronics – Semiconductors space as it currently has a Zacks Industry Rank of 46 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, GLOBALFOUNDRIES is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past two months, current quarter estimates have risen from 9 cents per share to 11 cents per share, while current year estimates have risen from a loss of 20 cents per share to a loss of 12 cents per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider GLOBALFOUNDRIES. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.



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