The share price of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) rose to $67.58 per share on Wednesday from $67.32. While GLOBALFOUNDRIES Inc. has overperformed by 0.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, GFS rose by 5.96%, with highs and lows ranging from $79.49 to $36.81, whereas the simple moving average jumped by 21.74% in the last 200 days.
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On November 16, 2022, Credit Suisse started tracking GLOBALFOUNDRIES Inc. (NASDAQ: GFS) recommending Outperform. A report published by Morgan Stanley on March 03, 2022, Upgraded its rating to ‘Overweight’ for GFS. Wedbush also rated GFS shares as ‘Outperform’, setting a target price of $75 on the company’s shares in an initiating report dated November 22, 2021. Robert W. Baird Initiated an Outperform rating on November 22, 2021, and assigned a price target of $100. Raymond James initiated its ‘Outperform’ rating for GFS, as published in its report on November 22, 2021. Needham’s report from November 22, 2021 suggests a price prediction of $85 for GFS shares, giving the stock a ‘Buy’ rating. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of GLOBALFOUNDRIES Inc. (GFS)
Further, the quarter-over-quarter increase in sales is 22.00%, showing a positive trend in the upcoming months.
To gain a thorough understanding of GLOBALFOUNDRIES Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 9.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and GFS is recording an average volume of 1.84M. On a monthly basis, the volatility of the stock is set at 5.09%, whereas on a weekly basis, it is put at 3.98%, with a gain of 5.20% over the past seven days. Furthermore, long-term investors anticipate a median target price of $70.95, showing growth from the present price of $67.58, which can serve as yet another indication of whether GFS is worth investing in or should be passed over.
How Do You Analyze GLOBALFOUNDRIES Inc. Shares?
A leading company in the Semiconductors sector, GLOBALFOUNDRIES Inc. (GFS) is based in the USA. When comparing GLOBALFOUNDRIES Inc. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 44.37, there is a growth in quarterly earnings of 6640.00%.
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 14.97% in the first quarter. The company now owns 28,469,282 shares of the stock, with a value of $1.61 billion, following the purchase of 3,707,106 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 38.40%. During the last quarter, the company dropped down 4,835,951 additional shares for a total stake of worth $988.18 million, bringing number of shares owned by the company to 17,428,260.
At the end of the first quarter, ArrowMark Colorado Holdings LLC increased its GFS holdings by 10.92% and now holds 2.91 million GFS shares valued at $165.27 million with the added 0.29 million shares during the period.