GLOBALFOUNDRIES (NASDAQ:GFS) PT Raised to $50.00 at Susquehanna

GLOBALFOUNDRIES (NASDAQ:GFS) had its price target hoisted by equities researchers at Susquehanna from $48.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s price target would indicate a potential downside of 3.10% from the company’s current price.

Several other analysts also recently issued reports on the company. Evercore ISI initiated coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday. Cantor Fitzgerald reaffirmed 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. HSBC decreased their target price on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Bank of America reduced their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.23.

GLOBALFOUNDRIES Price Performance

Shares of NASDAQ GFS opened at $51.60 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $50.69 and a two-hundred day moving average price of $53.84. The firm has a market cap of $28.56 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 4.16 and a beta of 1.61. GLOBALFOUNDRIES has a fifty-two week low of $45.52 and a fifty-two week high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. During the same period in the previous year, the company earned $1.37 earnings per share. GLOBALFOUNDRIES’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts expect that GLOBALFOUNDRIES will post 1 earnings per share for the current fiscal year.

Institutional Trading of GLOBALFOUNDRIES

Large investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina boosted its stake in shares of GLOBALFOUNDRIES by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 34,449 shares of the company’s stock worth $2,005,000 after acquiring an additional 180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after acquiring an additional 187 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of GLOBALFOUNDRIES by 6.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,389 shares of the company’s stock worth $314,000 after purchasing an additional 316 shares during the period. Principal Financial Group Inc. raised its holdings in GLOBALFOUNDRIES by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 6,160 shares of the company’s stock valued at $358,000 after acquiring an additional 321 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of GLOBALFOUNDRIES by 31.6% in the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after purchasing an additional 363 shares in the last quarter.

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.