In Wednesday’s session, GLOBALFOUNDRIES Inc. (NASDAQ:GFS) marked $56.29 per share, down from $56.82 in the previous session. While GLOBALFOUNDRIES Inc. has underperformed by -0.93%, investors are advised to look at stock chart patterns for technical insight.
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On March 03, 2022, Morgan Stanley Upgraded GLOBALFOUNDRIES Inc. (NASDAQ: GFS) to Overweight. A report published by Wedbush on November 22, 2021, Initiated its previous ‘Outperform’ rating for GFS. Robert W. Baird also rated GFS shares as ‘Outperform’, setting a target price of $100 on the company’s shares in an initiating report dated November 22, 2021. Raymond James Initiated an Outperform rating on November 22, 2021, and assigned a price target of $80. Needham initiated its ‘Buy’ rating for GFS, as published in its report on November 22, 2021. Morgan Stanley’s report from November 22, 2021 suggests a price prediction of $67 for GFS shares, giving the stock a ‘Equal-Weight’ rating. JP Morgan also rated the stock as ‘Overweight’.
Analysis of GLOBALFOUNDRIES Inc. (GFS)
Further, the quarter-over-quarter increase in sales is 23.00%, showing a positive trend in the upcoming months.
GLOBALFOUNDRIES Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 6.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and GFS has an average volume of 2.37M. On a monthly basis, the volatility of the stock is set at 4.67%, whereas on a weekly basis, it is put at 3.84%, with a loss of -3.48% over the past seven days. Furthermore, long-term investors anticipate a median target price of $68.33, showing growth from the present price of $56.29, which can serve as yet another indication of whether GFS is worth investing in or should be passed over.
Are institutional investors increasing their holdings in GFS shares?
The recent increase in stakes in GFS appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in GFS has increased by 13.79% in the first quarter. The company now owns 24,762,176 shares of the stock, with a value of $1.48 billion, following the purchase of 3,001,254 additional shares during the last quarter. Matrix Capital Management Co. LP made another increased to its shares in GFS during the first quarter, upping its stake by 37.20%. During the last quarter, the company picked up 3,414,209 additional shares for a total stake of worth $753.27 million, bringing number of shares owned by the company to 12,592,309.
At the end of the first quarter, BlackRock Investment Management increased its GFS holdings by 0.61% and now holds 2.89 million GFS shares valued at $173.15 million with the added 17470.0 shares during the period.