UBS Group Has Lowered Expectations for GlobalFoundries (NASDAQ:GFS) Stock Price

GlobalFoundries (NASDAQ:GFS) had its price objective reduced by equities researchers at UBS Group from $47.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 5.09% from the company’s previous close.

Several other research firms have also recently commented on GFS. Deutsche Bank Aktiengesellschaft reduced their target price on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Citigroup reduced their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Evercore ISI reduced their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Susquehanna reduced their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.00.

GlobalFoundries Stock Down 1.7 %

GFS stock opened at $42.82 on Wednesday. GlobalFoundries has a one year low of $35.85 and a one year high of $61.98. The stock has a market capitalization of $23.63 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The company has a fifty day moving average of $42.37 and a 200-day moving average of $42.33.

GlobalFoundries (NASDAQ:GFS) last released 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 return on equity of 6.87% and a net margin of 10.95%. As a group, analysts expect that GlobalFoundries will post 1.22 EPS for the current year.

Hedge Funds Weigh In On GlobalFoundries

Hedge funds have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina grew its holdings in shares of GlobalFoundries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock worth $1,855,000 after buying an additional 280 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of 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 buying an additional 340 shares in the last quarter. Signaturefd LLC grew its holdings in shares of GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 411 shares in the last quarter. Mariner LLC grew its holdings in shares of GlobalFoundries by 5.5% during the fourth quarter. Mariner LLC now owns 8,111 shares of the company’s stock worth $348,000 after buying an additional 420 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of 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 buying an additional 438 shares in the last quarter.

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.