GlobalFoundries (NASDAQ:GFS – Free Report) had its price target cut by Cantor Fitzgerald from $55.00 to $40.00 in a research report released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.
Several other research analysts also recently weighed in on GFS. Needham & Company LLC restated a hold rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price target on GlobalFoundries from $60.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, August 7th. TD Cowen dropped their price target on GlobalFoundries from $65.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Wedbush restated an outperform rating and issued a $65.00 price target on shares of GlobalFoundries in a research note on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective on GlobalFoundries from $77.00 to $71.00 and set an outperform rating on the stock in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, GlobalFoundries presently has an average rating of Moderate Buy and a consensus target price of $56.38.
Read Our Latest Research Report on GlobalFoundries
GlobalFoundries Trading Up 1.3 %
GlobalFoundries (NASDAQ:GFS – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was down 11.5% on a year-over-year basis. As a group, equities research analysts expect that GlobalFoundries will post 1.09 EPS for the current year.
Institutional Trading of GlobalFoundries
Several hedge funds and other institutional investors have recently bought and sold shares of GFS. Mubadala Investment Co PJSC purchased a new stake in GlobalFoundries during the 4th quarter valued at $28,451,821,000. Marshall Wace LLP increased its stake in GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after purchasing an additional 1,299,687 shares during the period. Renaissance Technologies LLC increased its stake in GlobalFoundries by 267.7% in the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after purchasing an additional 257,749 shares during the period. Ghisallo Capital Management LLC increased its stake in GlobalFoundries by 200.0% in the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after purchasing an additional 200,000 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in GlobalFoundries by 128.5% in the second quarter. Canada Pension Plan Investment Board now owns 235,049 shares of the company’s stock worth $11,884,000 after purchasing an additional 132,170 shares during the period.
About GlobalFoundries
GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.
Featured Articles
- Five stocks we like better than GlobalFoundries
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- 3 Micro-Caps Set for Major Moves: Balancing Risk and Opportunity
- Stock Sentiment Analysis: How it Works
- Autodesk Named a “Top Pick” by Morgan Stanley—Is It Time to Buy?
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- 4 Quirky ETFs With Big Potential for Impressive Gains
Receive News & Ratings for GlobalFoundries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlobalFoundries and related companies with MarketBeat.com's FREE daily email newsletter.