GLOBALFOUNDRIES (NASDAQ:GFS) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of GLOBALFOUNDRIES (NASDAQ:GFS - Free Report) in a research note published on Monday morning, Marketbeat Ratings reports. Cantor Fitzgerald currently has a $55.00 target price on the stock, down from their prior target price of $70.00.

Other equities research analysts have also issued reports about the stock. Robert W. Baird cut their target price on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an outperform rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price objective on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a neutral rating on the stock in a report on Wednesday, February 14th. Citigroup lowered shares of GLOBALFOUNDRIES from a buy rating to a neutral rating and dropped their price objective for the stock from $70.00 to $56.00 in a report on Wednesday, February 14th. Susquehanna restated a neutral rating and set a $48.00 price objective (down from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Finally, Bank of America lowered shares of GLOBALFOUNDRIES from a buy rating to a neutral rating and dropped their price objective for the stock from $70.00 to $65.00 in a report on Friday, December 15th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, GLOBALFOUNDRIES currently has a consensus rating of Moderate Buy and a consensus price target of $63.25.

GLOBALFOUNDRIES Trading Down 0.6 %

Shares of GLOBALFOUNDRIES stock traded down $0.29 during trading on Monday, hitting $50.26. 775,886 shares of the company were exchanged, compared to its average volume of 1,554,285. The firm has a market capitalization of $27.53 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 4.27 and a beta of 1.61. GLOBALFOUNDRIES has a 1-year low of $48.12 and a 1-year high of $69.00. The firm's fifty day moving average price is $53.13 and its 200 day moving average price is $55.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.56.

GLOBALFOUNDRIES (NASDAQ:GFS - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. As a group, sell-side analysts expect that GLOBALFOUNDRIES will post 1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GLOBALFOUNDRIES

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. bought a new stake in shares of GLOBALFOUNDRIES during the 2nd quarter worth about $26,000. Advisors Asset Management Inc. bought a new stake in shares of GLOBALFOUNDRIES during the 3rd quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of GLOBALFOUNDRIES by 50.4% during the 4th 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 period. Natixis bought a new stake in GLOBALFOUNDRIES in the 4th quarter valued at about $38,000. Finally, KBC Group NV boosted its holdings in GLOBALFOUNDRIES by 210.9% in the 4th quarter. KBC Group NV now owns 802 shares of the company's stock valued at $49,000 after purchasing an additional 544 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.