Analysts Set GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Target Price at $63.25

GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $63.25.

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price target (down previously from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. JPMorgan Chase & Co. lowered their price target on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a "neutral" rating for the company in a research report on Wednesday, February 14th. Susquehanna reaffirmed a "neutral" rating and issued a $48.00 price target (down previously from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Citigroup cut shares of GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $70.00 to $56.00 in a research report on Wednesday, February 14th. Finally, Robert W. Baird lowered their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an "outperform" rating for the company in a research report on Wednesday, February 14th.

GLOBALFOUNDRIES Trading Down 4.3 %

NASDAQ:GFS traded down $2.12 during mid-day trading on Monday, hitting $47.26. 2,580,821 shares of the stock traded hands, compared to its average volume of 1,569,811. The stock has a market capitalization of $25.89 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.17 and a beta of 1.61. GLOBALFOUNDRIES has a 52 week low of $46.73 and a 52 week high of $68.57. The firm's 50 day moving average is $52.65 and its two-hundred day moving average is $54.82. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.16.

GLOBALFOUNDRIES (NASDAQ:GFS - Get Free Report) last issued its 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. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. On average, equities research analysts predict that GLOBALFOUNDRIES will post 1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ST Germain D J Co. Inc. acquired a new stake in shares of GLOBALFOUNDRIES in the second quarter worth $26,000. Advisors Asset Management Inc. acquired a new stake in shares of GLOBALFOUNDRIES in the third quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 acquiring an additional 187 shares during the period. Natixis acquired a new stake in shares of GLOBALFOUNDRIES in the fourth quarter worth $38,000. Finally, KBC Group NV increased its stake in shares of GLOBALFOUNDRIES by 210.9% in the fourth quarter. KBC Group NV now owns 802 shares of the company's stock worth $49,000 after acquiring an additional 544 shares during the period.

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.