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

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $57.54.

GFS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 target price on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 7th. TD Cowen cut their price objective on shares of GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th.

Hedge Funds Weigh In On GLOBALFOUNDRIES

A number of institutional investors and hedge funds have recently bought and sold shares of GFS. Mubadala Investment Co PJSC acquired a new position in GLOBALFOUNDRIES in the 4th quarter valued at approximately $28,451,821,000. Marshall Wace LLP raised its position in GLOBALFOUNDRIES by 108.6% during the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after purchasing an additional 1,299,687 shares during the last quarter. Kodai Capital Management LP acquired a new position in GLOBALFOUNDRIES during the 4th quarter worth about $67,351,000. Norges Bank bought a new stake in shares of GLOBALFOUNDRIES in the 4th quarter valued at about $18,629,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 270,520 shares during the period.

GLOBALFOUNDRIES Trading Down 1.4 %

NASDAQ GFS opened at $39.19 on Thursday. GLOBALFOUNDRIES has a 52 week low of $38.49 and a 52 week high of $62.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22. The stock’s 50 day moving average price is $47.20 and its two-hundred day moving average price is $49.52. The stock 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 (NASDAQ:GFS) last released its earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.10. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. GLOBALFOUNDRIES’s revenue was down 11.5% on a year-over-year basis. As a group, analysts anticipate that GLOBALFOUNDRIES will post 1.09 earnings per share 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.