GLOBALFOUNDRIES (NASDAQ:GFS – Free Report) had its target price reduced by Deutsche Bank Aktiengesellschaft from $60.00 to $55.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.
A number of other research firms have also commented on GFS. Jefferies Financial Group began coverage on shares of GLOBALFOUNDRIES in a research note on Monday, May 13th. They issued a buy rating and a $62.00 price objective for the company. TD Cowen decreased their price objective on shares of GLOBALFOUNDRIES from $65.00 to $55.00 and set a buy rating for the company in a research note on Wednesday. Cantor Fitzgerald reaffirmed a neutral rating and issued a $55.00 price objective on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th. HSBC decreased their price objective on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a hold rating for the company in a research note on Friday, May 3rd. Finally, Bank of America decreased their price objective on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $57.54.
View Our Latest Stock Report on GFS
GLOBALFOUNDRIES Price Performance
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. Research analysts forecast that GLOBALFOUNDRIES will post 1.06 earnings per share for the current year.
Institutional Investors Weigh In On GLOBALFOUNDRIES
A number of institutional investors have recently modified their holdings of GFS. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of GLOBALFOUNDRIES by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after buying an additional 187 shares during the period. Massmutual Trust Co. FSB ADV acquired a new stake in shares of GLOBALFOUNDRIES in the 2nd quarter valued at $59,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GLOBALFOUNDRIES in the 2nd quarter valued at $65,000. CWM LLC lifted its stake in shares of GLOBALFOUNDRIES by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of GLOBALFOUNDRIES by 47.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after purchasing an additional 786 shares during the last quarter.
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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