GLOBALFOUNDRIES (NASDAQ:GFS) PT Raised to $50.00

GLOBALFOUNDRIES (NASDAQ:GFS) had its price objective lifted by Susquehanna from $48.00 to $50.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

GFS has been the subject of several other research reports. Evercore ISI assumed coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an outperform rating and a $71.00 price target for the company. Robert W. Baird dropped their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th. HSBC dropped their price objective on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a hold rating on the stock in a report on Friday, May 3rd. Bank of America decreased their target price on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Finally, Cantor Fitzgerald reissued a neutral rating and issued a $55.00 price objective (down previously from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $61.23.

GLOBALFOUNDRIES Price Performance

Shares of GFS opened at $52.36 on Wednesday. The stock has a market capitalization of $28.98 billion, a PE ratio of 28.46, a PEG ratio of 4.16 and a beta of 1.61. The company has a 50 day moving average price of $50.75 and a 200-day moving average price of $53.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.56 and a current ratio of 2.04. GLOBALFOUNDRIES has a fifty-two week low of $45.52 and a fifty-two week high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS) last released 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. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $1.37 EPS. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts predict that GLOBALFOUNDRIES will post 1 earnings per share for the current fiscal year.

Institutional Trading of GLOBALFOUNDRIES

Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 buying an additional 187 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of GLOBALFOUNDRIES by 442.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock worth $52,000 after purchasing an additional 730 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of GLOBALFOUNDRIES in the third quarter valued at approximately $58,000. Blue Trust Inc. lifted its position in GLOBALFOUNDRIES by 31.6% during the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after buying an additional 363 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in GLOBALFOUNDRIES by 230.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock worth $119,000 after buying an additional 1,423 shares during the last quarter.

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.