GlobalFoundries (NASDAQ:GFS) Price Target Raised to $42.00

GlobalFoundries (NASDAQ:GFS) had its target price upped by Morgan Stanley from $40.00 to $42.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Robert W. Baird dropped their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday. UBS Group began coverage on GlobalFoundries in a report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Evercore ISI decreased 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, GlobalFoundries currently has an average rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Trading Up 0.8 %

NASDAQ GFS opened at $43.16 on Wednesday. The stock has a market capitalization of $23.81 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 8.23 and a beta of 1.56. The stock’s 50 day moving average price is $42.31 and its two-hundred day moving average price is $42.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. GlobalFoundries has a 52 week low of $35.85 and a 52 week high of $61.98.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GFS. FMR LLC grew its holdings in GlobalFoundries by 7.5% in the 4th quarter. FMR LLC now owns 53,096,556 shares of the company’s stock valued at $2,278,373,000 after buying an additional 3,721,153 shares in the last quarter. Analog Century Management LP acquired a new position in GlobalFoundries in the 4th quarter valued at $50,298,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of GlobalFoundries during the 4th quarter worth $16,091,000. Invesco Ltd. grew its holdings in shares of GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock worth $100,058,000 after purchasing an additional 221,731 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth $8,361,000.

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.