GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $60.62.

Several analysts have issued reports on GFS shares. Susquehanna raised their price target on shares of GLOBALFOUNDRIES from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target (down from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. Evercore ISI started coverage on shares of GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target on the stock. Jefferies Financial Group started coverage on shares of GLOBALFOUNDRIES in a research report on Monday, May 13th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of GLOBALFOUNDRIES in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On GLOBALFOUNDRIES

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GFS. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 acquiring an additional 187 shares during the last quarter. Blue Trust Inc. raised its stake in shares of GLOBALFOUNDRIES by 31.6% in the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after acquiring an additional 363 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of GLOBALFOUNDRIES by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock worth $127,000 after acquiring an additional 786 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of GLOBALFOUNDRIES by 128.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock worth $129,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of GLOBALFOUNDRIES by 122.5% in the third quarter. Toronto Dominion Bank now owns 3,473 shares of the company’s stock worth $202,000 after acquiring an additional 1,912 shares during the last quarter.

GLOBALFOUNDRIES Stock Performance

Shares of GFS opened at $50.56 on Friday. The company has a market capitalization of $27.90 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 4.78 and a beta of 1.57. GLOBALFOUNDRIES has a one year low of $45.52 and a one year high of $68.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.59. The company’s fifty day moving average price is $50.27 and its 200 day moving average price is $53.15.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its 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. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. As a group, analysts expect that GLOBALFOUNDRIES will post 1.06 earnings per share for the current year.

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.