GlobalFoundries Inc. (NASDAQ:GFS) Given Average Recommendation of “Hold” by Analysts

GlobalFoundries Inc. (NASDAQ:GFS) has received an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $50.21.

GFS has been the topic of several recent research reports. UBS Group initiated coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Citigroup cut their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Evercore ISI cut their price target on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th.

GlobalFoundries Trading Up 1.0 %

NASDAQ GFS opened at $41.72 on Friday. GlobalFoundries has a 12 month low of $35.85 and a 12 month high of $62.61. 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 company has a market capitalization of $23.02 billion, a PE ratio of 31.13, a P/E/G ratio of 10.71 and a beta of 1.59. The stock has a 50-day simple moving average of $42.07 and a 200 day simple moving average of $44.96.

GlobalFoundries (NASDAQ:GFS) last released its quarterly 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 company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Research analysts forecast that GlobalFoundries will post 1.22 EPS for the current year.

Hedge Funds Weigh In On GlobalFoundries

Several institutional investors have recently added to or reduced their stakes in GFS. Allspring Global Investments Holdings LLC bought a new stake in shares of GlobalFoundries during the third quarter valued at approximately $34,000. US Bancorp DE grew its holdings in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares in the last quarter. AM Squared Ltd bought a new position in GlobalFoundries in the 3rd quarter valued at $60,000. Advisors Asset Management Inc. raised 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 acquiring an additional 463 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of GlobalFoundries during the 3rd quarter valued at $66,000.

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.