GLOBALFOUNDRIES (NASDAQ:GFS – Free Report) had its target price trimmed by HSBC from $56.00 to $43.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.
A number of other research analysts have also recently commented on GFS. Robert W. Baird reduced their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th. Citigroup cut shares of GLOBALFOUNDRIES from a buy rating to a neutral rating and decreased their target price for the stock from $70.00 to $56.00 in a research report on Wednesday, February 14th. Susquehanna restated a neutral rating and set a $48.00 price target (down from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Evercore ISI began coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an outperform rating and a $71.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on GLOBALFOUNDRIES from $56.00 to $55.00 and set a neutral rating for the company in a research note on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $61.46.
Get Our Latest Stock Analysis on GLOBALFOUNDRIES
GLOBALFOUNDRIES Price Performance
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. Research analysts forecast that GLOBALFOUNDRIES will post 1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On GLOBALFOUNDRIES
A number of institutional investors have recently bought and sold shares of GFS. Daiwa Securities Group Inc. grew its stake in GLOBALFOUNDRIES by 3.6% in the first quarter. Daiwa Securities Group Inc. now owns 61,324 shares of the company’s stock worth $3,195,000 after purchasing an additional 2,159 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of GLOBALFOUNDRIES by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after buying an additional 68,626 shares during the period. Norden Group LLC bought a new position in shares of GLOBALFOUNDRIES in the 1st quarter worth about $400,000. Principal Financial Group Inc. increased its stake in shares of GLOBALFOUNDRIES by 32.5% in the 1st quarter. Principal Financial Group Inc. now owns 6,530 shares of the company’s stock worth $340,000 after acquiring an additional 1,603 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in GLOBALFOUNDRIES by 128.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock valued at $129,000 after acquiring an additional 1,391 shares during the period.
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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