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

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) has earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $57.54.

A number of equities analysts have weighed in on GFS shares. TD Cowen lowered their price target on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of GLOBALFOUNDRIES in a report on Tuesday, July 16th. Evercore ISI decreased their price objective on shares of GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GFS. Treasurer of the State of North Carolina raised its position in GLOBALFOUNDRIES by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 34,789 shares of the company’s stock valued at $2,108,000 after purchasing an additional 340 shares in the last quarter. CWM LLC increased its stake in shares of GLOBALFOUNDRIES by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of GLOBALFOUNDRIES by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after buying an additional 444 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of GLOBALFOUNDRIES by 1.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock worth $1,758,000 after buying an additional 450 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in GLOBALFOUNDRIES by 1.1% in the second quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock valued at $2,307,000 after buying an additional 515 shares in the last quarter.

GLOBALFOUNDRIES Price Performance

NASDAQ:GFS opened at $41.10 on Thursday. The stock has a market capitalization of $22.68 billion, a PE ratio of 25.37, a P/E/G ratio of 6.48 and a beta of 1.54. GLOBALFOUNDRIES has a 1-year low of $39.12 and a 1-year high of $62.61. The firm has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $49.91. 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. GLOBALFOUNDRIES had a net margin of 11.82% and a return on equity of 7.75%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. On average, research analysts expect that GLOBALFOUNDRIES will post 1.09 EPS for the current fiscal 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.