GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $60.62.

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of GLOBALFOUNDRIES in a research note on Wednesday, May 8th. Susquehanna raised their target price on shares of GLOBALFOUNDRIES from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. Jefferies Financial Group assumed coverage on shares of GLOBALFOUNDRIES in a research note on Monday, May 13th. They issued a "buy" rating and a $62.00 price target on the stock. Bank of America cut their price objective 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 reaffirmed a "neutral" rating and issued a $55.00 target price (down previously from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th.

GLOBALFOUNDRIES Stock Down 0.2 %

NASDAQ GFS traded down $0.08 during trading hours on Friday, hitting $50.56. 2,464,164 shares of the company traded hands, compared to its average volume of 1,442,751. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 2.18. The business's 50-day moving average is $50.27 and its 200-day moving average is $53.13. The stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 4.76 and a beta of 1.57. GLOBALFOUNDRIES has a twelve month low of $45.52 and a twelve month high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Sell-side analysts anticipate that GLOBALFOUNDRIES will post 1.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in GLOBALFOUNDRIES by 43.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,456 shares of the company's stock valued at $7,009,000 after acquiring an additional 36,595 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of GLOBALFOUNDRIES by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 34,449 shares of the company's stock valued at $2,005,000 after purchasing an additional 180 shares during the last quarter. Tower Research Capital LLC TRC increased its position in GLOBALFOUNDRIES by 54.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 29,665 shares of the company's stock worth $1,726,000 after purchasing an additional 10,517 shares in the last quarter. Toronto Dominion Bank lifted its stake in GLOBALFOUNDRIES by 122.5% in the 3rd quarter. Toronto Dominion Bank now owns 3,473 shares of the company's stock valued at $202,000 after purchasing an additional 1,912 shares during the last quarter. Finally, Teza Capital Management LLC boosted its position in GLOBALFOUNDRIES by 14.5% in the third quarter. Teza Capital Management LLC now owns 17,784 shares of the company's stock valued at $1,035,000 after buying an additional 2,254 shares in 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.