GLOBALFOUNDRIES (NASDAQ:GFS) Research Coverage Started at Loop Capital

Loop Capital began coverage on shares of GLOBALFOUNDRIES (NASDAQ:GFSGet Rating) in a report issued on Monday morning, The Fly reports. The brokerage issued a buy rating on the stock.

A number of other brokerages have also weighed in on GFS. Credit Suisse Group restated an outperform rating and issued a $78.00 target price on shares of GLOBALFOUNDRIES in a research note on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft increased their price objective on GLOBALFOUNDRIES from $67.00 to $70.00 in a research report on Wednesday, December 14th. Needham & Company LLC increased their price objective on GLOBALFOUNDRIES from $68.00 to $72.00 and gave the company a buy rating in a research report on Wednesday, November 9th. Susquehanna Bancshares increased their target price on GLOBALFOUNDRIES from $75.00 to $80.00 in a report on Wednesday, November 9th. Finally, HSBC increased their target price on GLOBALFOUNDRIES to $55.00 in a report on Tuesday, November 15th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and an average target price of $73.15.

GLOBALFOUNDRIES Stock Up 3.9 %

Shares of NASDAQ GFS opened at $58.66 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.45 and a quick ratio of 1.10. GLOBALFOUNDRIES has a one year low of $36.81 and a one year high of $79.49. The stock has a market capitalization of $31.20 billion, a PE ratio of 39.11, a P/E/G ratio of 0.59 and a beta of 2.19. The business’s fifty day moving average price is $59.87 and its 200-day moving average price is $56.61.

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, beating analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.05 billion. GLOBALFOUNDRIES had a return on equity of 9.65% and a net margin of 10.48%. On average, equities research analysts anticipate that GLOBALFOUNDRIES will post 2.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Godsey & Gibb Inc. bought a new stake in shares of GLOBALFOUNDRIES in the 4th quarter worth $27,000. Private Trust Co. NA purchased a new position in shares of GLOBALFOUNDRIES in the 4th quarter worth $29,000. IFP Advisors Inc boosted its stake in shares of GLOBALFOUNDRIES by 363.5% in the 3rd quarter. IFP Advisors Inc now owns 635 shares of the company’s stock worth $31,000 after buying an additional 498 shares during the last quarter. Wahed Invest LLC purchased a new position in GLOBALFOUNDRIES during the second quarter valued at $27,000. Finally, CWM LLC lifted its position in shares of GLOBALFOUNDRIES by 35.1% in the third quarter. CWM LLC now owns 747 shares of the company’s stock valued at $36,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 16.08% of the company’s stock.

GLOBALFOUNDRIES Company Profile

(Get Rating)

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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