Analysts Set GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Price Target at $63.25

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $63.08.

GFS has been the topic of several recent analyst reports. Bank of America dropped their price target on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup lowered GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $56.00 in a research report on Wednesday, February 14th. Robert W. Baird cut their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, Evercore ISI started coverage on GLOBALFOUNDRIES in a report on Tuesday. They set an “outperform” rating and a $71.00 price objective on the stock.

Institutional Trading of GLOBALFOUNDRIES

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. acquired a new position in shares of GLOBALFOUNDRIES during the 2nd quarter worth approximately $26,000. Advisors Asset Management Inc. acquired a new position in shares of GLOBALFOUNDRIES during the 3rd quarter worth approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after acquiring an additional 187 shares during the last quarter. Natixis acquired a new position in GLOBALFOUNDRIES in the fourth quarter valued at approximately $38,000. Finally, KBC Group NV lifted its holdings in GLOBALFOUNDRIES by 210.9% in the fourth quarter. KBC Group NV now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 544 shares during the last quarter.

GLOBALFOUNDRIES Price Performance

NASDAQ GFS opened at $47.36 on Monday. The business has a 50 day simple moving average of $52.47 and a 200 day simple moving average of $54.70. GLOBALFOUNDRIES has a 52-week low of $46.73 and a 52-week high of $68.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.04. The stock has a market cap of $25.94 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 3.99 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $1.37 EPS. Analysts anticipate that GLOBALFOUNDRIES will post 1 earnings per share for the current fiscal year.

GLOBALFOUNDRIES Company Profile

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.