GlobalFoundries Inc. (NASDAQ:GFS) Receives $50.21 Consensus Target Price from Brokerages

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have been given an average rating of “Hold” by the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $50.21.

Several equities analysts recently issued reports on GFS shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Citigroup lowered their price objective on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $53.00 to $43.00 in a report on Monday, October 28th.

GlobalFoundries Trading Down 1.0 %

NASDAQ GFS opened at $42.68 on Wednesday. The stock’s 50-day simple moving average is $43.09 and its two-hundred day simple moving average is $43.84. GlobalFoundries has a twelve month low of $35.85 and a twelve month high of $61.98. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 9.42 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.47 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts forecast that GlobalFoundries will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after acquiring an additional 1,160,403 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of GlobalFoundries by 108.6% during the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after buying an additional 1,299,687 shares during the period. State Street Corp grew its stake in GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after purchasing an additional 98,084 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in GlobalFoundries by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock valued at $33,063,000 after buying an additional 77,581 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of GlobalFoundries by 16.0% in the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after acquiring an additional 86,740 shares during the period.

About GlobalFoundries

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.