GlobalFoundries Inc. (NASDAQ:GFS) Given Average Rating of “Hold” by Brokerages

GlobalFoundries Inc. (NASDAQ:GFS) has been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the company, 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 target price among brokerages that have updated their coverage on the stock in the last year is $50.21.

Several research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Robert W. Baird reduced their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup lowered their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Wedbush restated an “outperform” rating and set a $60.00 target price (down previously from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Finally, Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $43.00 in a research note on Monday, October 28th.

Institutional Trading of GlobalFoundries

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after acquiring an additional 1,160,403 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after purchasing an additional 1,299,687 shares during the last quarter. State Street Corp raised its position in shares of GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after purchasing an additional 98,084 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of GlobalFoundries by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock worth $33,063,000 after buying an additional 77,581 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after buying an additional 86,740 shares during the period.

GlobalFoundries Stock Performance

Shares of GFS opened at $41.17 on Wednesday. The firm has a market cap of $22.72 billion, a P/E ratio of 30.72, a PEG ratio of 10.71 and a beta of 1.57. GlobalFoundries has a twelve month low of $35.85 and a twelve month high of $61.98. 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 firm’s 50 day moving average price is $43.28 and its two-hundred day moving average price is $44.07.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion for 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 firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. On average, analysts forecast that GlobalFoundries will post 1.22 EPS for the current fiscal 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.