GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday, StockNewsAPI reports. They presently have a $55.00 price objective on the stock, down from their prior price objective of $70.00. Cantor Fitzgerald’s target price points to a potential upside of 8.80% from the stock’s current price.
A number of other research analysts also recently commented on GFS. Susquehanna restated a “neutral” rating and set a $48.00 price objective (down from $65.00) on shares of GLOBALFOUNDRIES in a research note on Tuesday, March 5th. Bank of America downgraded GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $65.00 in a research note on Friday, December 15th. Robert W. Baird lowered their price objective on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their target price on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Finally, Citigroup lowered GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $56.00 in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.25.
View Our Latest Research Report on GFS
GLOBALFOUNDRIES Price Performance
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. The firm’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. As a group, analysts predict that GLOBALFOUNDRIES will post 1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On GLOBALFOUNDRIES
Institutional investors have recently made changes to their positions in the stock. ST Germain D J Co. Inc. acquired a new stake in shares of GLOBALFOUNDRIES during the second quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of GLOBALFOUNDRIES by 50.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after purchasing an additional 187 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of GLOBALFOUNDRIES during the third quarter worth $33,000. Natixis acquired a new stake in shares of GLOBALFOUNDRIES during the fourth quarter worth $38,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of GLOBALFOUNDRIES by 79.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 771 shares of the company’s stock worth $56,000 after purchasing an additional 341 shares during the period.
About GLOBALFOUNDRIES
GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.
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