GlobalFoundries Inc. (NASDAQ:GFS) Receives $54.85 Average Price Target from Analysts

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $50.46.

Several research firms have weighed in on GFS. Evercore ISI dropped their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a report on Tuesday. Susquehanna lowered their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup dropped their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday.

GlobalFoundries Price Performance

GFS opened at $45.27 on Friday. The firm has a market capitalization of $24.98 billion, a P/E ratio of 33.78, a PEG ratio of 5.82 and a beta of 1.53. The stock has a fifty day moving average of $40.34 and a 200-day moving average of $46.53. The company has a quick ratio of 1.59, a current ratio of 2.22 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.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data 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 the consensus estimate of $1.73 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. Equities analysts forecast that GlobalFoundries will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On GlobalFoundries

A number of institutional investors have recently made changes to their positions in GFS. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of GlobalFoundries by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 83,162 shares of the company’s stock valued at $4,334,000 after buying an additional 12,487 shares during the last quarter. Norden Group LLC bought a new stake in GlobalFoundries in the first quarter valued at about $400,000. Principal Financial Group Inc. lifted its position in shares of GlobalFoundries by 32.5% during the 1st quarter. Principal Financial Group Inc. now owns 6,530 shares of the company’s stock worth $340,000 after buying an additional 1,603 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in GlobalFoundries by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after acquiring an additional 68,626 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of GlobalFoundries by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 61,324 shares of the company’s stock worth $3,195,000 after purchasing an additional 2,159 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.