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

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $78.87.

GFS has been the topic of a number of recent analyst reports. TD Cowen dropped their price objective on shares of GLOBALFOUNDRIES from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. Raymond James increased their target price on shares of GLOBALFOUNDRIES from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 15th. Morgan Stanley increased their target price on shares of GLOBALFOUNDRIES from $72.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, February 15th. HSBC increased their target price on shares of GLOBALFOUNDRIES from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, February 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of GLOBALFOUNDRIES from $70.00 to $75.00 in a research report on Tuesday, February 14th.

GLOBALFOUNDRIES Trading Up 1.6 %

Shares of NASDAQ:GFS opened at $56.41 on Friday. GLOBALFOUNDRIES has a 52 week low of $36.81 and a 52 week high of $72.50. The company’s 50 day moving average is $62.62 and its two-hundred day moving average is $62.07. The company has a current ratio of 1.94, a quick ratio of 1.45 and a debt-to-equity ratio of 0.22. The company has a market cap of $30.90 billion, a PE ratio of 20.44, a P/E/G ratio of 9.69 and a beta of 1.95.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Matrix Capital Management Company LP boosted its holdings in shares of GLOBALFOUNDRIES by 6.1% in the fourth quarter. Matrix Capital Management Company LP now owns 18,498,000 shares of the company’s stock valued at $996,857,000 after acquiring an additional 1,069,740 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of GLOBALFOUNDRIES by 665.4% in the third quarter. Marshall Wace LLP now owns 1,961,265 shares of the company’s stock valued at $94,826,000 after acquiring an additional 1,705,026 shares in the last quarter. Norges Bank purchased a new stake in shares of GLOBALFOUNDRIES in the fourth quarter valued at about $80,293,000. First Trust Advisors LP boosted its holdings in shares of GLOBALFOUNDRIES by 37.0% in the first quarter. First Trust Advisors LP now owns 1,486,900 shares of the company’s stock valued at $107,324,000 after acquiring an additional 401,582 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of GLOBALFOUNDRIES by 1,042.5% in the first quarter. Capital Research Global Investors now owns 1,316,303 shares of the company’s stock valued at $82,164,000 after acquiring an additional 1,201,093 shares in the last quarter. 16.08% of the stock is currently owned by institutional investors and hedge funds.

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.