Analysts Predict 13% Gains Ahead For The Holdings of FXL
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 06 2024
0mins
Source: NASDAQ.COM
- ETF Analyst Target Price Comparison: ETF Channel compared trading prices of holdings against average analyst 12-month forward target prices to calculate implied analyst target price for First Trust Technology AlphaDEX Fund ETF (FXL).
- Implied Upside for FXL: Analysts see 12.80% upside for FXL ETF based on average analyst targets of underlying holdings.
- Notable Holdings with Upside: CloudFlare Inc (NET), GlobalFoundries Inc (GFS), and Advanced Micro Devices Inc (AMD) have notable upside potential according to average analyst target prices.
- Analyst Target Price Summary: NET has a 29.45% upside, GFS has 24.26% upside, and AMD has 16.39% upside from recent share prices based on analyst targets.
- Investor Considerations: Questions raised about analysts' justification for targets, optimism, and relevance to current company and industry developments, suggesting the need for further investor research.
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Analyst Views on GFS
Wall Street analysts forecast GFS stock price to fall
11 Analyst Rating
2 Buy
7 Hold
2 Sell
Hold
Current: 48.700
Low
35.00
Averages
41.32
High
48.50
Current: 48.700
Low
35.00
Averages
41.32
High
48.50
About GFS
GlobalFoundries Inc. is a semiconductor manufacturer. The Company offers a range of mainstream wafer fabrication services and technologies. It manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units. Its specialized foundry manufacturing processes include a library consisting of qualified circuit-building block designs (known as IP titles or IP blocks), and advanced transistor and device technology. The Company's differentiated technology platforms include radio frequency (RF) silicon-on-insulator (SOI), Fin Field-Effect Transistor (FinFET), FDX, Complementary Metal-Oxide Semiconductor (CMOS), Silicon Germanium (SiGe), Gallium Nitride (GaN), Bipolar-CMOS-DMOS (BCD), and Silicon Photonics (SiPh).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Interest Rate Expectations Shift: Following the robust employment report, the market's expectation for a Fed rate cut next month dropped from 23% to 6%, with the 10-year T-note yield rising by 3 basis points to 4.17%, reflecting a cautious outlook on future monetary policy.
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- Margin Improvement: The adjusted gross margin rose by 360 basis points year-over-year to 29.0%, while the adjusted operating margin increased by 270 basis points to 18.3%, indicating significant progress in cost control and operational efficiency.
- Strategic Transformation: CEO Tim Breen emphasized that the company is at a pivotal “inflection point,” transitioning from a traditional foundry to a holistic technology solutions provider, particularly investing in “Physical AI,” which is expected to drive future growth.
- Positive Outlook: The company expects first-quarter revenue between $1.600 billion and $1.650 billion, with adjusted EPS projected at 30 to 40 cents, reflecting management's confidence in future performance despite supply chain and global regulatory risks.
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- Interest Rate Expectations Shift: Following the stronger-than-expected jobs report, the 10-year T-note yield increased by 3 basis points to 4.17%, with market expectations for a Fed rate cut next month dropping from 23% to 8%, reflecting investor caution regarding future monetary policy.
- Corporate Earnings Performance: So far, 78% of the 319 S&P 500 companies have reported earnings that beat expectations, with Q4 earnings growth projected at 8.4%, demonstrating corporate resilience that may support the stock market.
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- Rising Bond Yields: Following the robust payroll report, the 10-year Treasury yield rose by 4 basis points to 4.18%, with market expectations for a Fed rate cut next month dropping from 23% to 6%, reflecting investor caution regarding future monetary policy.
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