GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Receives Average Recommendation of “Buy” from Brokerages

GLOBALFOUNDRIES Inc. (NASDAQ:GFSGet Rating) has been assigned a consensus rating of “Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $73.15.

GFS has been the subject of several analyst reports. Susquehanna Bancshares upped their target price on shares of GLOBALFOUNDRIES from $75.00 to $80.00 in a research note on Wednesday, November 9th. Susquehanna upped their price target on shares of GLOBALFOUNDRIES from $75.00 to $80.00 in a report on Wednesday, November 9th. Needham & Company LLC upped their price target on shares of GLOBALFOUNDRIES from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of GLOBALFOUNDRIES from $67.00 to $70.00 in a report on Wednesday, December 14th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $78.00 price target on shares of GLOBALFOUNDRIES in a report on Wednesday, November 16th.

Institutional Trading of GLOBALFOUNDRIES

A number of large investors have recently modified their holdings of the company. Occudo Quantitative Strategies LP bought a new position in GLOBALFOUNDRIES in the 2nd quarter valued at about $6,089,000. Capital CS Group LLC boosted its position in shares of GLOBALFOUNDRIES by 12.4% during the 3rd quarter. Capital CS Group LLC now owns 9,641 shares of the company’s stock valued at $466,000 after purchasing an additional 1,064 shares in the last quarter. Versor Investments LP boosted its position in shares of GLOBALFOUNDRIES by 81.2% during the 2nd quarter. Versor Investments LP now owns 63,076 shares of the company’s stock valued at $2,544,000 after purchasing an additional 28,260 shares in the last quarter. EFG Asset Management North America Corp. bought a new position in shares of GLOBALFOUNDRIES during the 2nd quarter valued at about $429,000. Finally, Walleye Capital LLC bought a new position in shares of GLOBALFOUNDRIES during the 2nd quarter valued at about $840,000. Institutional investors and hedge funds own 16.08% of the company’s stock.

GLOBALFOUNDRIES Price Performance

GFS opened at $56.45 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.45 and a debt-to-equity ratio of 0.22. GLOBALFOUNDRIES has a 52-week low of $36.81 and a 52-week high of $79.49. The company has a 50 day moving average of $60.00 and a two-hundred day moving average of $56.28. The company has a market cap of $30.02 billion, a P/E ratio of 37.63, a P/E/G ratio of 0.62 and a beta of 2.19.

GLOBALFOUNDRIES (NASDAQ:GFSGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.07. GLOBALFOUNDRIES had a net margin of 10.48% and a return on equity of 9.65%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.05 billion. On average, analysts expect that GLOBALFOUNDRIES will post 2.69 earnings per share for the current year.

About GLOBALFOUNDRIES

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GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies.

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Analyst Recommendations for GLOBALFOUNDRIES (NASDAQ:GFS)

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