GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Short Interest Update

GLOBALFOUNDRIES Inc. (NASDAQ:GFSGet Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 12,550,000 shares, a growth of 8.8% from the May 15th total of 11,530,000 shares. Based on an average trading volume of 1,560,000 shares, the short-interest ratio is currently 8.0 days. Currently, 15.8% of the shares of the stock are sold short.

GLOBALFOUNDRIES Stock Up 0.1 %

GLOBALFOUNDRIES stock traded up $0.07 during mid-day trading on Tuesday, hitting $50.83. The company had a trading volume of 1,254,258 shares, compared to its average volume of 1,631,982. The stock has a market cap of $28.24 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 4.68 and a beta of 1.57. The company has a quick ratio of 1.59, a current ratio of 2.18 and a debt-to-equity ratio of 0.22. GLOBALFOUNDRIES has a 1 year low of $45.52 and a 1 year high of $68.57. The business has a fifty day moving average of $49.85 and a 200 day moving average of $53.26.

GLOBALFOUNDRIES (NASDAQ:GFSGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. On average, sell-side analysts expect that GLOBALFOUNDRIES will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GFS shares. Needham & Company LLC restated a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. Evercore ISI assumed coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 target price for the company. Jefferies Financial Group began coverage on GLOBALFOUNDRIES in a report on Monday, May 13th. They set a “buy” rating and a $62.00 price target on the stock. 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. Finally, Susquehanna lifted 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, GLOBALFOUNDRIES presently has an average rating of “Moderate Buy” and a consensus price target of $60.62.

Check Out Our Latest Stock Analysis on GLOBALFOUNDRIES

Institutional Investors Weigh In On GLOBALFOUNDRIES

Several hedge funds have recently modified their holdings of the stock. Treasurer of the State of North Carolina increased its position in 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 worth $2,005,000 after purchasing an additional 180 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after acquiring an additional 187 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of GLOBALFOUNDRIES by 6.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,389 shares of the company’s stock worth $314,000 after purchasing an additional 316 shares in the last quarter. Blue Trust Inc. grew its stake in shares of GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after purchasing an additional 363 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd increased its holdings in shares of GLOBALFOUNDRIES by 9.1% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 5,316 shares of the company’s stock valued at $322,000 after purchasing an additional 443 shares in the last quarter.

About GLOBALFOUNDRIES

(Get Free Report)

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.

Read More

Receive News & Ratings for GLOBALFOUNDRIES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GLOBALFOUNDRIES and related companies with MarketBeat.com's FREE daily email newsletter.