Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) Target Price at $50.21

GlobalFoundries Inc. (NASDAQ:GFS) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $49.64.

Several research analysts have issued reports on the stock. Evercore ISI lowered their price target on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday. Cantor Fitzgerald restated a “neutral” rating and set a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Morgan Stanley raised their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Susquehanna lowered their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

GlobalFoundries Stock Down 1.7 %

Shares of NASDAQ GFS opened at $42.82 on Friday. The company has a 50 day simple moving average of $42.37 and a 200 day simple moving average of $42.33. The firm has a market cap of $23.63 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. On average, research analysts forecast that GlobalFoundries will post 1.22 EPS for the current year.

Institutional Trading of GlobalFoundries

Hedge funds have recently bought and sold shares of the business. FMR LLC boosted its holdings in GlobalFoundries by 7.5% during the 4th quarter. FMR LLC now owns 53,096,556 shares of the company’s stock worth $2,278,373,000 after acquiring an additional 3,721,153 shares during the last quarter. Invesco Ltd. boosted its holdings in GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock worth $100,058,000 after acquiring an additional 221,731 shares during the last quarter. State Street Corp boosted its holdings in GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after acquiring an additional 98,084 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GlobalFoundries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company’s stock worth $39,176,000 after acquiring an additional 16,921 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after acquiring an additional 86,740 shares during the last quarter.

GlobalFoundries Company Profile

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.