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

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $50.21.

GFS has been the topic of several research reports. Evercore ISI cut their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. UBS Group assumed coverage on GlobalFoundries in a research report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Susquehanna cut their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On GlobalFoundries

A number of hedge funds have recently bought and sold shares of GFS. DekaBank Deutsche Girozentrale lifted its holdings in GlobalFoundries by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock worth $357,000 after acquiring an additional 340 shares during the period. Pacer Advisors Inc. increased its position in GlobalFoundries by 1.7% in the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after buying an additional 444 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares during the last quarter. Royal London Asset Management Ltd. raised its position in shares of GlobalFoundries by 1.5% in the third quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock valued at $1,420,000 after purchasing an additional 510 shares during the period. Finally, Profund Advisors LLC lifted its position in shares of GlobalFoundries by 1.1% during the second quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock worth $2,307,000 after acquiring an additional 515 shares in the last quarter.

GlobalFoundries Stock Down 1.0 %

Shares of NASDAQ GFS opened at $42.68 on Wednesday. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. The firm’s 50-day moving average is $43.09 and its 200-day moving average is $43.84. 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 firm has a market capitalization of $23.55 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 9.42 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Equities analysts expect that GlobalFoundries will post 1.18 EPS for the current year.

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.