GlobalFoundries Inc. (NASDAQ:GFS) Receives $50.21 Average PT from Analysts

GlobalFoundries Inc. (NASDAQ:GFS) has been assigned an average rating of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $50.21.

Several equities analysts recently issued reports on GFS shares. Evercore ISI dropped their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird cut their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. TD Cowen lowered their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley cut shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $53.00 to $43.00 in a research note on Monday, October 28th. Finally, UBS Group started coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 target price for the company.

Institutional Investors Weigh In On GlobalFoundries

A number of institutional investors and hedge funds have recently bought and sold shares of GFS. Marshall Wace LLP increased its position in GlobalFoundries by 108.6% during the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after buying an additional 1,299,687 shares in the last quarter. FMR LLC boosted its stake in shares of GlobalFoundries by 2.4% during the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after acquiring an additional 1,160,403 shares during the last quarter. Renaissance Technologies LLC increased its position in GlobalFoundries by 267.7% during the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after purchasing an additional 257,749 shares in the last quarter. Weiss Asset Management LP acquired a new position in GlobalFoundries in the 3rd quarter valued at about $8,361,000. Finally, Ghisallo Capital Management LLC lifted its holdings in GlobalFoundries by 200.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock valued at $15,168,000 after purchasing an additional 200,000 shares in the last quarter.

GlobalFoundries Trading Up 0.9 %

Shares of GFS opened at $43.25 on Tuesday. 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. The firm has a market capitalization of $23.86 billion, a P/E ratio of 32.28, a P/E/G ratio of 10.46 and a beta of 1.53. The firm has a 50-day moving average price of $40.86 and a 200 day moving average price of $45.74.

GlobalFoundries (NASDAQ:GFS) last released its quarterly 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. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. GlobalFoundries’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. Sell-side analysts forecast that GlobalFoundries will post 1.22 EPS for the current year.

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.