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

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have been assigned a consensus rating of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $50.21.

Several equities research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. UBS Group started coverage on GlobalFoundries in a research report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price target for the company. Robert W. Baird cut their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI reduced their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a research note on Wednesday, November 6th.

GlobalFoundries Stock Up 5.5 %

Shares of NASDAQ:GFS opened at $44.03 on Friday. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 10.71 and a beta of 1.59. The business’s 50 day moving average is $42.12 and its 200 day moving average is $44.87. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $62.61. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.

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

Institutional Trading of GlobalFoundries

Institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in 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 purchasing an additional 1,160,403 shares in the last quarter. Marshall Wace LLP increased its position in shares of GlobalFoundries by 108.6% during the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after buying an additional 1,299,687 shares during the period. State Street Corp increased its position in shares of GlobalFoundries by 8.3% during the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after buying an additional 98,084 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of GlobalFoundries by 13.5% in the second 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 in the last quarter. Finally, Citigroup Inc. boosted its position in shares of GlobalFoundries by 16.0% in the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after acquiring an additional 86,740 shares during the period.

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.