GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Short Interest Update

GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) saw a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 11,750,000 shares, a decrease of 6.4% from the February 13th total of 12,550,000 shares. Currently, 15.7% of the company’s shares are sold short. Based on an average trading volume of 2,080,000 shares, the days-to-cover ratio is currently 5.6 days.

GLOBALFOUNDRIES Trading Up 2.8 %

Shares of GFS opened at $65.85 on Wednesday. The company has a market capitalization of $35.02 billion, a P/E ratio of 25.04, a P/E/G ratio of 9.80 and a beta of 2.05. GLOBALFOUNDRIES has a one year low of $36.81 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.33 and a current ratio of 1.73. The stock has a 50-day moving average price of $62.09 and a 200 day moving average price of $59.40.

Wall Street Analyst Weigh In

GFS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on GLOBALFOUNDRIES from $70.00 to $75.00 in a research note on Tuesday, February 14th. Credit Suisse Group upped their price target on GLOBALFOUNDRIES from $78.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Raymond James upped their target price on GLOBALFOUNDRIES from $70.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Morgan Stanley upped their target price on GLOBALFOUNDRIES from $72.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Finally, Loop Capital upped their target price on GLOBALFOUNDRIES from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its holdings in GLOBALFOUNDRIES by 1.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 13,256 shares of the company’s stock worth $641,000 after buying an additional 191 shares during the last quarter. CWM LLC lifted its holdings in GLOBALFOUNDRIES by 35.1% during the 3rd quarter. CWM LLC now owns 747 shares of the company’s stock worth $36,000 after buying an additional 194 shares during the last quarter. Ibex Wealth Advisors lifted its holdings in GLOBALFOUNDRIES by 0.4% during the 4th quarter. Ibex Wealth Advisors now owns 47,113 shares of the company’s stock worth $2,539,000 after buying an additional 205 shares during the last quarter. Balentine LLC lifted its holdings in GLOBALFOUNDRIES by 5.2% during the 4th quarter. Balentine LLC now owns 4,601 shares of the company’s stock worth $248,000 after buying an additional 227 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in GLOBALFOUNDRIES by 3.5% during the 3rd quarter. ProShare Advisors LLC now owns 6,705 shares of the company’s stock worth $325,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 16.08% of the company’s stock.

GLOBALFOUNDRIES Company Profile

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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.