GlobalFoundries (NASDAQ:GFS) Price Target Lowered to $40.00 at Cantor Fitzgerald

GlobalFoundries (NASDAQ:GFS - Get Free Report) had its target price decreased by Cantor Fitzgerald from $55.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Cantor Fitzgerald's price objective indicates a potential upside of 1.19% from the stock's previous close.

Several other brokerages have also recently issued reports on GFS. Evercore ISI lowered their target price on shares of GlobalFoundries from $77.00 to $71.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. TD Cowen decreased their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on GlobalFoundries from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Wedbush reissued an "outperform" rating and issued a $65.00 target price on shares of GlobalFoundries in a report on Wednesday, August 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.38.

GlobalFoundries Stock Down 0.5 %

GlobalFoundries stock traded down $0.20 during trading on Tuesday, reaching $39.53. The stock had a trading volume of 1,129,511 shares, compared to its average volume of 1,576,442. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 52-week low of $38.45 and a 52-week high of $62.61. The stock has a market cap of $21.81 billion, a PE ratio of 24.40, a P/E/G ratio of 6.36 and a beta of 1.52. The business has a 50 day moving average price of $42.64 and a 200 day moving average price of $48.02.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.10. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the previous year, the company earned $0.45 EPS. The company's revenue for the quarter was down 11.5% on a year-over-year basis. On average, analysts predict that GlobalFoundries will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV purchased a new stake in shares of GlobalFoundries in the second quarter valued at $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GlobalFoundries in the 2nd quarter valued at about $65,000. CWM LLC boosted its stake in shares of GlobalFoundries by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company's stock worth $68,000 after purchasing an additional 373 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of GlobalFoundries by 47.3% during the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company's stock worth $127,000 after buying an additional 786 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of GlobalFoundries by 128.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company's stock valued at $129,000 after buying an additional 1,391 shares during the last quarter.

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.