GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $63.25.

A number of research firms have recently weighed in on GFS. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 target price (down from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. Citigroup lowered shares of GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $56.00 in a report on Wednesday, February 14th. Susquehanna reiterated a “neutral” rating and set a $48.00 target price (down from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Robert W. Baird dropped 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th.

Hedge Funds Weigh In On GLOBALFOUNDRIES

A number of institutional investors and hedge funds have recently made changes to their positions in GFS. Mubadala Investment Co PJSC bought a new position in shares of GLOBALFOUNDRIES during the fourth quarter valued at approximately $28,451,821,000. FMR LLC increased its stake in shares of GLOBALFOUNDRIES by 18.7% during the third quarter. FMR LLC now owns 35,205,461 shares of the company’s stock valued at $2,048,606,000 after purchasing an additional 5,544,907 shares in the last quarter. Norges Bank bought a new position in shares of GLOBALFOUNDRIES during the fourth quarter valued at approximately $80,293,000. Capital Research Global Investors increased its stake in shares of GLOBALFOUNDRIES by 1,042.5% during the first quarter. Capital Research Global Investors now owns 1,316,303 shares of the company’s stock valued at $82,164,000 after purchasing an additional 1,201,093 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of GLOBALFOUNDRIES during the fourth quarter valued at approximately $67,351,000.

GLOBALFOUNDRIES Stock Performance

NASDAQ GFS opened at $49.38 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.04. The company has a market capitalization of $27.05 billion, a P/E ratio of 26.84, a P/E/G ratio of 4.17 and a beta of 1.61. The company has a fifty day moving average of $52.74 and a 200-day moving average of $54.90. GLOBALFOUNDRIES has a 52-week low of $48.12 and a 52-week high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its quarterly 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 business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. As a group, equities research analysts predict that GLOBALFOUNDRIES will post 1 EPS for the current fiscal year.

About GLOBALFOUNDRIES

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.