GLOBALFOUNDRIES (NASDAQ:GFS) PT Lowered to $55.00

GLOBALFOUNDRIES (NASDAQ:GFS) had its target price lowered by analysts at Bank of America from $62.00 to $55.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 16.13% from the company’s current price.

A number of other brokerages also recently commented on GFS. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective (down from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. Citigroup downgraded shares of GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $56.00 in a research report on Wednesday, February 14th. Robert W. Baird lowered their target price on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Susquehanna restated a “neutral” rating and issued a $48.00 target price (down previously from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Finally, Evercore ISI initiated coverage on shares of GLOBALFOUNDRIES in a report on Tuesday. They issued an “outperform” rating and a $71.00 target price for the company. Five equities research 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 an average rating of “Moderate Buy” and an average target price of $63.08.

GLOBALFOUNDRIES Stock Performance

NASDAQ:GFS opened at $47.36 on Tuesday. GLOBALFOUNDRIES has a 1-year low of $46.73 and a 1-year high of $68.57. The company’s 50-day moving average is $52.47 and its two-hundred day moving average is $54.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.56. The firm has a market capitalization of $25.94 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 3.99 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.37 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Analysts forecast that GLOBALFOUNDRIES will post 1 EPS for the current year.

Institutional Trading of GLOBALFOUNDRIES

A number of large investors have recently bought and sold shares of GFS. Global Assets Advisory LLC acquired a new stake in shares of GLOBALFOUNDRIES in the 1st quarter worth $594,000. Renaissance Capital LLC boosted its holdings in shares of GLOBALFOUNDRIES by 3.0% in the first quarter. Renaissance Capital LLC now owns 51,595 shares of the company’s stock valued at $2,689,000 after acquiring an additional 1,500 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of GLOBALFOUNDRIES by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 247,571 shares of the company’s stock valued at $15,003,000 after acquiring an additional 12,634 shares in the last quarter. Mubadala Investment Co PJSC purchased a new stake in shares of GLOBALFOUNDRIES in the fourth quarter valued at about $28,451,821,000. Finally, Greenwood Capital Associates LLC boosted its holdings in shares of GLOBALFOUNDRIES by 7.9% in the fourth quarter. Greenwood Capital Associates LLC now owns 107,217 shares of the company’s stock valued at $6,497,000 after acquiring an additional 7,868 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.