Susquehanna Raises GLOBALFOUNDRIES (NASDAQ:GFS) Price Target to $50.00

GLOBALFOUNDRIES (NASDAQ:GFS) had its price objective increased by investment analysts at Susquehanna from $48.00 to $50.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential downside of 5.62% from the stock’s current price.

GFS has been the topic of several other reports. Bank of America reduced their price objective on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price objective (down from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. HSBC dropped their target price on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Citigroup lowered GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $56.00 in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut their price objective on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.62.

GLOBALFOUNDRIES Trading Down 0.5 %

Shares of GFS stock opened at $52.98 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $50.75 and its 200-day moving average price is $53.86. GLOBALFOUNDRIES has a twelve month low of $45.52 and a twelve month high of $68.57. The stock has a market cap of $29.33 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 4.16 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. As a group, equities analysts predict that GLOBALFOUNDRIES will post 1 earnings per share for the current year.

Institutional Investors Weigh In On GLOBALFOUNDRIES

Several institutional investors have recently modified their holdings of GFS. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 purchasing an additional 187 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of GLOBALFOUNDRIES by 442.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock worth $52,000 after buying an additional 730 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of GLOBALFOUNDRIES in the 3rd quarter valued at $58,000. Blue Trust Inc. grew its position in shares of GLOBALFOUNDRIES by 31.6% in the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after buying an additional 363 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in GLOBALFOUNDRIES by 230.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock worth $119,000 after acquiring an additional 1,423 shares in 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.