GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Receives $57.54 Average Price Target from Analysts

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $57.54.

Several equities analysts have commented on GFS shares. Wedbush reiterated an “outperform” rating and issued a $65.00 price objective on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. Evercore ISI lowered their target price on GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. TD Cowen dropped their price target on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price on shares of GLOBALFOUNDRIES in a report on Tuesday, July 16th.

GLOBALFOUNDRIES Trading Up 0.2 %

Shares of NASDAQ:GFS opened at $39.18 on Thursday. GLOBALFOUNDRIES has a 52-week low of $38.49 and a 52-week high of $62.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22. The company has a market capitalization of $21.62 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 6.64 and a beta of 1.54. The company has a 50-day simple moving average of $46.59 and a 200 day simple moving average of $49.33.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that GLOBALFOUNDRIES will post 1.09 earnings per share for the current year.

Institutional Trading of GLOBALFOUNDRIES

Institutional investors and hedge funds have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV acquired a new position in GLOBALFOUNDRIES during the second quarter valued at approximately $59,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of GLOBALFOUNDRIES during the 2nd quarter worth $65,000. CWM LLC lifted its position in shares of GLOBALFOUNDRIES by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after buying an additional 373 shares during the last quarter. Lazard Asset Management LLC boosted its stake in GLOBALFOUNDRIES by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after buying an additional 786 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in GLOBALFOUNDRIES by 128.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock valued at $129,000 after acquiring an additional 1,391 shares during the last quarter.

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.