Deutsche Bank Aktiengesellschaft Lowers GlobalFoundries (NASDAQ:GFS) Price Target to $50.00

GlobalFoundries (NASDAQ:GFS) had its target price cut by Deutsche Bank Aktiengesellschaft from $55.00 to $50.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Susquehanna lowered their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a report on Wednesday. Robert W. Baird dropped their target price on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore ISI reduced their price target on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, GlobalFoundries currently has a consensus rating of “Hold” and a consensus price target of $50.46.

GlobalFoundries Price Performance

NASDAQ:GFS opened at $47.48 on Wednesday. The company has a market capitalization of $26.20 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 5.82 and a beta of 1.53. The company has a 50-day moving average of $40.35 and a 200-day moving average of $46.54. GlobalFoundries has a 52 week low of $35.85 and a 52 week high of $62.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that GlobalFoundries will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of GlobalFoundries

Several institutional investors and hedge funds have recently added to or reduced their stakes in GFS. Allspring Global Investments Holdings LLC bought a new position in shares of GlobalFoundries in the 3rd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV acquired a new position in GlobalFoundries in the second quarter valued at approximately $59,000. US Bancorp DE boosted its stake in GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after acquiring an additional 530 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in GlobalFoundries in the second quarter valued at approximately $65,000. Finally, CWM LLC grew its holdings in GlobalFoundries by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after acquiring an additional 373 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.