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

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $63.08.

GFS has been the subject of a number of recent research reports. Bank of America dropped their target price on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Susquehanna restated a “neutral” rating and set a $48.00 target price (down previously from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Robert W. Baird dropped their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Evercore ISI initiated coverage on GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th.

Institutional Investors Weigh In On GLOBALFOUNDRIES

A number of large investors have recently modified their holdings of GFS. Bank of New York Mellon Corp raised its position in GLOBALFOUNDRIES by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 81,148 shares of the company’s stock worth $5,066,000 after purchasing an additional 1,101 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in GLOBALFOUNDRIES by 12.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,307 shares of the company’s stock worth $706,000 after acquiring an additional 1,236 shares during the period. HighTower Advisors LLC grew its holdings in GLOBALFOUNDRIES by 16.4% during the 1st quarter. HighTower Advisors LLC now owns 4,455 shares of the company’s stock worth $277,000 after acquiring an additional 627 shares during the period. Citigroup Inc. grew its holdings in GLOBALFOUNDRIES by 32.9% during the 1st quarter. Citigroup Inc. now owns 5,608 shares of the company’s stock worth $350,000 after acquiring an additional 1,389 shares during the period. Finally, Cibc World Market Inc. grew its holdings in GLOBALFOUNDRIES by 131.8% during the 1st quarter. Cibc World Market Inc. now owns 15,986 shares of the company’s stock worth $998,000 after acquiring an additional 9,090 shares during the period.

GLOBALFOUNDRIES Trading Down 1.3 %

Shares of GFS opened at $46.26 on Monday. The stock has a fifty day moving average price of $52.12 and a two-hundred day moving average price of $54.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.04. GLOBALFOUNDRIES has a 52-week low of $46.23 and a 52-week high of $68.57. The company has a market cap of $25.34 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.91 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.64 earnings per share (EPS) 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 the consensus estimate of $1.85 billion. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS. 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.