GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Given Consensus Rating of “Moderate Buy” by Analysts

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) has been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $60.62.

A number of equities analysts have weighed in on GFS shares. Jefferies Financial Group started coverage on GLOBALFOUNDRIES in a research report on Monday, May 13th. They set a “buy” rating and a $62.00 price target for the company. Susquehanna increased their price objective on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. HSBC cut their price objective on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Evercore ISI assumed coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price objective for the company. Finally, Bank of America cut their price objective on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th.

GLOBALFOUNDRIES Stock Performance

Shares of GFS stock opened at $47.67 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.59. The stock has a market cap of $26.48 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 4.51 and a beta of 1.57. The stock has a 50-day moving average of $50.01 and a 200-day moving average of $53.48. GLOBALFOUNDRIES has a one year low of $45.52 and a one year high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its earnings results on Tuesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. As a group, sell-side analysts expect that GLOBALFOUNDRIES will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On GLOBALFOUNDRIES

A number of institutional investors have recently modified their holdings of GFS. Treasurer of the State of North Carolina increased its stake in shares of GLOBALFOUNDRIES by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,449 shares of the company’s stock valued at $2,005,000 after buying an additional 180 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in GLOBALFOUNDRIES by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after purchasing an additional 187 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in GLOBALFOUNDRIES by 6.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,389 shares of the company’s stock valued at $314,000 after purchasing an additional 316 shares during the period. Principal Financial Group Inc. grew its position in shares of GLOBALFOUNDRIES by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 6,160 shares of the company’s stock worth $358,000 after buying an additional 321 shares during the period. Finally, Blue Trust Inc. grew its position in shares of GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after buying an additional 363 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.