GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Free Report) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $59.00.
Several research firms have recently weighed in on GFS. Jefferies Financial Group initiated coverage on GLOBALFOUNDRIES in a research note on Monday, May 13th. They issued a “buy” rating and a $62.00 price target for the company. Morgan Stanley lifted their price objective on GLOBALFOUNDRIES from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. HSBC reduced their price objective on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Evercore ISI assumed coverage on GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 target price on the stock. Finally, Bank of America reduced their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th.
Get Our Latest Stock Analysis on GFS
GLOBALFOUNDRIES Stock Performance
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. On average, equities analysts expect that GLOBALFOUNDRIES will post 1.06 EPS for the current fiscal year.
Institutional Trading of GLOBALFOUNDRIES
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after acquiring an additional 187 shares during the period. Massmutual Trust Co. FSB ADV purchased a new position in GLOBALFOUNDRIES in the 2nd quarter worth approximately $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GLOBALFOUNDRIES in the 2nd quarter worth approximately $65,000. CWM LLC boosted its stake in GLOBALFOUNDRIES by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after purchasing an additional 373 shares during the period. Finally, Blue Trust Inc. grew its holdings in GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after buying an additional 363 shares in the last quarter.
GLOBALFOUNDRIES Company Profile
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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