GlobalFoundries Inc. (NASDAQ:GFS) Receives Average Recommendation of “Moderate Buy” from Analysts

GlobalFoundries Inc. (NASDAQ:GFS) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $49.64.

A number of brokerages have recently commented on GFS. UBS Group cut their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup cut their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday. Robert W. Baird cut their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.

GlobalFoundries Stock Down 1.7 %

Shares of NASDAQ GFS opened at $42.82 on Friday. The stock has a market cap of $23.63 billion, a P/E ratio of 31.96, a P/E/G ratio of 8.23 and a beta of 1.56. GlobalFoundries has a 52-week low of $35.85 and a 52-week 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 has a 50 day moving average price of $42.37 and a 200 day moving average price of $42.33.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. Analysts expect that GlobalFoundries will post 1.22 EPS for the current year.

Hedge Funds Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently modified their holdings of GFS. FMR LLC grew its stake in GlobalFoundries by 7.5% during the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock worth $2,278,373,000 after buying an additional 3,721,153 shares in the last quarter. Invesco Ltd. grew its stake in GlobalFoundries by 10.5% during the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock worth $100,058,000 after buying an additional 221,731 shares in the last quarter. State Street Corp grew its stake in GlobalFoundries by 8.3% during the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after buying an additional 98,084 shares in the last quarter. Geode Capital Management LLC grew its stake in GlobalFoundries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company’s stock worth $39,176,000 after buying an additional 16,921 shares in the last quarter. Finally, Citigroup Inc. grew its stake in GlobalFoundries by 16.0% during the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after buying an additional 86,740 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.