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

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $50.21.

Several research firms recently issued reports on GFS. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $53.00 to $43.00 in a report on Monday, October 28th. 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. UBS Group started coverage on GlobalFoundries in a research note on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price for the company. Citigroup dropped their price target on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th.

GlobalFoundries Trading Down 2.9 %

NASDAQ GFS opened at $42.85 on Tuesday. The firm has a market capitalization of $23.64 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 10.98 and a beta of 1.53. The business’s 50-day moving average price is $40.78 and its two-hundred day moving average price is $45.87. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 12 month low of $35.85 and a 12 month high of $62.61.

GlobalFoundries (NASDAQ:GFS) last announced its earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. On average, analysts expect that GlobalFoundries will post 1.22 EPS for the current year.

Institutional Trading of GlobalFoundries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in GlobalFoundries during the 3rd quarter valued at about $34,000. US Bancorp DE grew its holdings in shares of GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares during the last quarter. Massmutual Trust Co. FSB ADV bought a new stake in shares of GlobalFoundries during the second quarter valued at approximately $59,000. AM Squared Ltd bought a new stake in shares of GlobalFoundries during the third quarter valued at approximately $60,000. Finally, Advisors Asset Management Inc. raised 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.

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.