GlobalFoundries (NASDAQ:GFS) Price Target Cut to $45.00 by Analysts at UBS Group

GlobalFoundries (NASDAQ:GFS) had its price target reduced by UBS Group from $47.00 to $45.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley increased their target price on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday. Susquehanna decreased their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI lowered their target price on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday. Finally, Citigroup decreased their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, GlobalFoundries presently has a consensus rating of “Hold” and an average price target of $50.00.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $43.55 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $42.37 and a 200-day simple moving average of $42.33. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. On average, equities analysts forecast that GlobalFoundries will post 1.22 EPS for the current year.

Hedge Funds Weigh In On GlobalFoundries

Several large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its stake in shares of GlobalFoundries by 4.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock valued at $357,000 after acquiring an additional 340 shares during the last quarter. Signaturefd LLC increased its position in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the last quarter. American Century Companies Inc. raised its stake in GlobalFoundries by 1.7% during the fourth quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock worth $1,113,000 after purchasing an additional 438 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after buying an additional 468 shares during the period.

GlobalFoundries Company Profile

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.