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

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $57.54.

Several brokerages have recently issued reports on GFS. Deutsche Bank Aktiengesellschaft decreased their price target on shares of GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $65.00 target price on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GLOBALFOUNDRIES in a research report on Wednesday, August 7th. Evercore ISI decreased their price objective on GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price target on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th.

GLOBALFOUNDRIES Trading Up 0.2 %

NASDAQ:GFS opened at $39.18 on Thursday. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 6.64 and a beta of 1.54. GLOBALFOUNDRIES has a 1-year low of $38.49 and a 1-year high of $62.61. The business’s 50-day moving average price is $46.59 and its two-hundred day moving average price is $49.33. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.10. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. GLOBALFOUNDRIES had a net margin of 11.82% and a return on equity of 7.75%. GLOBALFOUNDRIES’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 EPS. On average, equities analysts expect that GLOBALFOUNDRIES will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its stake in shares of GLOBALFOUNDRIES by 29.6% during the 4th quarter. Private Advisor Group LLC now owns 7,931 shares of the company’s stock worth $481,000 after buying an additional 1,811 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in GLOBALFOUNDRIES by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 143,870 shares of the company’s stock valued at $8,719,000 after purchasing an additional 23,414 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in GLOBALFOUNDRIES by 124.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock valued at $29,581,000 after purchasing an additional 270,520 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of GLOBALFOUNDRIES by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,742 shares of the company’s stock worth $1,810,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of GLOBALFOUNDRIES by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,797 shares of the company’s stock worth $1,684,000 after purchasing an additional 3,345 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.