GLOBALFOUNDRIES (NASDAQ:GFS) Price Target Increased to $50.00 by Analysts at Susquehanna

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

Several other research firms have also weighed in on GFS. Needham & Company LLC restated a hold rating on shares of GLOBALFOUNDRIES in a report on Wednesday. HSBC reduced their price target on GLOBALFOUNDRIES from $56.00 to $43.00 and set a hold rating on the stock in a research report on Friday, May 3rd. Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They set an outperform rating and a $71.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Finally, Robert W. Baird lowered their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $61.23.

GLOBALFOUNDRIES Stock Performance

Shares of GFS opened at $52.36 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $50.75 and a two-hundred day moving average of $53.85. GLOBALFOUNDRIES has a 12-month low of $45.52 and a 12-month high of $68.57. The stock has a market cap of $28.98 billion, a P/E ratio of 28.46, a PEG ratio of 4.16 and a beta of 1.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, research analysts predict that GLOBALFOUNDRIES will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in GLOBALFOUNDRIES by 50.4% during 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. lifted its position in shares of GLOBALFOUNDRIES by 442.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock worth $52,000 after acquiring an additional 730 shares during the period. Advisors Preferred LLC bought a new stake in shares of GLOBALFOUNDRIES during the third quarter valued at approximately $58,000. Blue Trust Inc. increased its position in shares of GLOBALFOUNDRIES by 31.6% during the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after purchasing an additional 363 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of GLOBALFOUNDRIES by 230.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock valued at $119,000 after purchasing an additional 1,423 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.