GLOBALFOUNDRIES’s (GFS) Neutral Rating Reaffirmed at Cantor Fitzgerald

GLOBALFOUNDRIES (NASDAQ:GFS)‘s stock had its “neutral” rating reissued by analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $55.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 1.51% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. HSBC cut their price objective on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Needham & Company LLC restated a “hold” rating on shares of GLOBALFOUNDRIES in a research report on Wednesday, May 8th. Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a research note on Tuesday, April 16th. They set an “outperform” rating and a $71.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of GLOBALFOUNDRIES in a report on Monday, May 13th. They issued a “buy” rating and a $62.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of GLOBALFOUNDRIES from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.62.

GLOBALFOUNDRIES Stock Down 1.0 %

Shares of NASDAQ:GFS traded down $0.54 during trading on Tuesday, hitting $54.18. 308,386 shares of the company were exchanged, compared to its average volume of 1,583,865. The stock has a market capitalization of $29.89 billion, a P/E ratio of 33.43, a PEG ratio of 5.13 and a beta of 1.56. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.59. GLOBALFOUNDRIES has a 12-month low of $45.52 and a 12-month high of $68.57. The firm’s 50 day moving average price is $51.21 and its 200-day moving average price is $52.58.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.24 EPS for the quarter, beating 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 firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. On average, research analysts predict that GLOBALFOUNDRIES will post 1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased 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 buying an additional 187 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of GLOBALFOUNDRIES by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 34,789 shares of the company’s stock worth $2,108,000 after buying an additional 340 shares during the last quarter. Blue Trust Inc. increased its stake in shares of GLOBALFOUNDRIES by 31.6% in the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after buying an additional 363 shares during the last quarter. CWM LLC increased its stake in shares of GLOBALFOUNDRIES by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after buying an additional 373 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd increased its stake in GLOBALFOUNDRIES by 9.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 5,316 shares of the company’s stock valued at $322,000 after purchasing an additional 443 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.