GlobalFoundries (NASDAQ:GFS) Price Target Cut to $35.00 by Analysts at Citigroup

GlobalFoundries (NASDAQ:GFS) had its target price cut by Citigroup from $40.00 to $35.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group decreased their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. 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 research report on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.29.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS opened at $33.33 on Friday. GlobalFoundries has a one year low of $29.77 and a one year high of $61.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The company has a market cap of $18.43 billion, a price-to-earnings ratio of -69.44, a PEG ratio of 1.42 and a beta of 1.54. The firm has a 50 day simple moving average of $38.39 and a 200 day simple moving average of $40.68.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Research analysts predict that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of GlobalFoundries

Several institutional investors and hedge funds have recently made changes to their positions in GFS. Signaturefd LLC boosted its position in GlobalFoundries by 153.9% in 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. Blue Trust Inc. boosted its holdings in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after buying an additional 745 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in GlobalFoundries during the fourth quarter valued at about $52,000. Graney & King LLC purchased a new stake in GlobalFoundries during the fourth quarter worth about $68,000. Finally, Covestor Ltd raised its position in GlobalFoundries by 309.8% in the fourth quarter. Covestor Ltd now owns 1,680 shares of the company’s stock worth $72,000 after acquiring an additional 1,270 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.