GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Free Report) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $60.62.
A number of research analysts recently issued reports on GFS shares. Bank of America reduced their price target on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Susquehanna boosted their price target on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday, May 8th. Jefferies Financial Group started coverage on GLOBALFOUNDRIES in a research note on Monday, May 13th. They set a “buy” rating and a $62.00 target price on the stock. Finally, Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target for the company.
Read Our Latest Analysis on GLOBALFOUNDRIES
GLOBALFOUNDRIES Stock Performance
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. Research analysts predict that GLOBALFOUNDRIES will post 1.06 EPS for the current year.
Institutional Investors Weigh In On GLOBALFOUNDRIES
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GFS. Mubadala Investment Co PJSC acquired a new position in shares of GLOBALFOUNDRIES in the fourth quarter valued at approximately $28,451,821,000. Ameriprise Financial Inc. lifted its holdings in GLOBALFOUNDRIES by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,160,878 shares of the company’s stock worth $183,931,000 after buying an additional 838,355 shares in the last quarter. First Trust Advisors LP boosted its position in GLOBALFOUNDRIES by 9.9% in the 4th quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock valued at $135,750,000 after buying an additional 201,611 shares during the period. Kodai Capital Management LP acquired a new position in shares of GLOBALFOUNDRIES in the fourth quarter worth $67,351,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of GLOBALFOUNDRIES by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after acquiring an additional 68,626 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.
Further Reading
- Five stocks we like better than GLOBALFOUNDRIES
- The How And Why of Investing in Oil Stocks
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- What Are Trending Stocks? Trending Stocks Explained
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
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.