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

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $60.62.

A number of equities research analysts have weighed in on GFS shares. Jefferies Financial Group started coverage on GLOBALFOUNDRIES in a research note on Monday, May 13th. They set a “buy” rating and a $62.00 price objective for the company. Morgan Stanley raised their price target on shares of GLOBALFOUNDRIES from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price target (down from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. Evercore ISI initiated coverage on shares of GLOBALFOUNDRIES in a report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 price objective for the company. Finally, HSBC cut their target price on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd.

Institutional Investors Weigh In On GLOBALFOUNDRIES

A number of large investors have recently made changes to their positions in the company. Penserra Capital Management LLC grew its stake in GLOBALFOUNDRIES by 63,726.7% during the 3rd quarter. Penserra Capital Management LLC now owns 19,148 shares of the company’s stock valued at $1,113,000 after acquiring an additional 19,118 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of GLOBALFOUNDRIES by 9.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 206,183 shares of the company’s stock valued at $12,495,000 after purchasing an additional 17,860 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of GLOBALFOUNDRIES in the 4th quarter valued at $976,000. Charles Schwab Investment Management Inc. boosted its holdings in GLOBALFOUNDRIES by 43.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,456 shares of the company’s stock worth $7,009,000 after purchasing an additional 36,595 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in GLOBALFOUNDRIES by 302.9% during the fourth quarter. Hsbc Holdings PLC now owns 37,369 shares of the company’s stock worth $2,260,000 after buying an additional 28,095 shares during the last quarter.

GLOBALFOUNDRIES Stock Down 0.2 %

GFS stock opened at $50.74 on Friday. The company has a 50 day moving average price of $50.51 and a two-hundred day moving average price of $52.96. GLOBALFOUNDRIES has a one year low of $45.52 and a one year high of $68.57. The stock has a market capitalization of $28.00 billion, a P/E ratio of 31.32, a PEG ratio of 4.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 2.18.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. As a group, sell-side analysts expect that GLOBALFOUNDRIES will post 1.06 EPS for the current 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.