Analysts Set GLOBALFOUNDRIES Inc. (NASDAQ:GFS) PT at $64.50

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat.com reports. Four 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 analysts that have covered the stock in the last year is $64.50.

A number of analysts have recently issued reports on GFS shares. Citigroup cut GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $56.00 in a research report on Wednesday, February 14th. Robert W. Baird lowered their price objective on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of GLOBALFOUNDRIES in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their price objective on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Finally, Susquehanna reiterated a “neutral” rating and issued a $48.00 price target (down from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th.

GLOBALFOUNDRIES Stock Performance

Shares of NASDAQ GFS opened at $51.73 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $54.31 and its two-hundred day moving average is $55.53. The company has a market cap of $28.34 billion, a P/E ratio of 28.11, a P/E/G ratio of 4.38 and a beta of 1.65. GLOBALFOUNDRIES has a 12 month low of $48.12 and a 12 month high of $72.37.

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

Hedge Funds Weigh In On GLOBALFOUNDRIES

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its stake in GLOBALFOUNDRIES by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,449 shares of the company’s stock worth $2,005,000 after purchasing an additional 180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after purchasing an additional 187 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in GLOBALFOUNDRIES by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 11,888 shares of the company’s stock worth $768,000 after purchasing an additional 213 shares in the last quarter. TD Asset Management Inc boosted its stake in GLOBALFOUNDRIES by 0.9% in the second quarter. TD Asset Management Inc now owns 25,254 shares of the company’s stock worth $1,631,000 after purchasing an additional 215 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in GLOBALFOUNDRIES by 6.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,389 shares of the company’s stock worth $314,000 after purchasing an additional 316 shares in the last quarter.

About GLOBALFOUNDRIES

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.