Fintel reports that on March 5, 2024, Susquehanna downgraded their outlook for GLOBALFOUNDRIES (NasdaqGS:GFS) from Positive to Neutral .
Analyst Price Forecast Suggests 18.58% Upside
As of February 24, 2024, the average one-year price target for GLOBALFOUNDRIES is 64.77. The forecasts range from a low of 51.51 to a high of $78.75. The average price target represents an increase of 18.58% from its latest reported closing price of 54.62.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for GLOBALFOUNDRIES is 8,977MM, an increase of 21.44%. The projected annual non-GAAP EPS is 3.08.
What is the Fund Sentiment?
There are 511 funds or institutions reporting positions in GLOBALFOUNDRIES. This is an increase of 1 owner(s) or 0.20% in the last quarter. Average portfolio weight of all funds dedicated to GFS is 0.37%, an increase of 86.27%. Total shares owned by institutions decreased in the last three months by 1.18% to 92,565K shares. 
The put/call ratio of GFS is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
Mubadala Investment Co PJSC holds 469,502K shares representing 84.87% ownership of the company.
Matrix Capital Management Company holds 17,048K shares representing 3.08% ownership of the company. No change in the last quarter.
FSELX - Semiconductors Portfolio holds 10,528K shares representing 1.90% ownership of the company. In it's prior filing, the firm reported owning 10,264K shares, representing an increase of 2.51%. The firm increased its portfolio allocation in GFS by 5.20% over the last quarter.
Invesco Qqq Trust, Series 1 holds 10,018K shares representing 1.81% ownership of the company. In it's prior filing, the firm reported owning 9,365K shares, representing an increase of 6.52%. The firm decreased its portfolio allocation in GFS by 4.47% over the last quarter.
FSPTX - Technology Portfolio holds 5,833K shares representing 1.05% ownership of the company. In it's prior filing, the firm reported owning 5,180K shares, representing an increase of 11.20%. The firm increased its portfolio allocation in GFS by 8.25% over the last quarter.
GlobalFoundries Background Information
(This description is provided by the company.)
GLOBALFOUNDRIES Inc. operates as a semiconductor contract manufacturing and design company. The Company offers chips designed for markets such as mobility, automotive, computing and wired connectivity, and consumer internet of things (IoT). GLOBALFOUNDRIES serves customers worldwide.
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This story originally appeared on Fintel.
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