GlobalFoundries Inc. (NASDAQ:GFS) Receives Consensus Rating 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.com reports. Seven analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $49.64.

A number of research analysts recently weighed in on GFS shares. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Morgan Stanley increased their price target on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Finally, UBS Group reduced their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On GlobalFoundries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after buying an additional 463 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of GlobalFoundries by 33.1% in the third quarter. Intech Investment Management LLC now owns 8,656 shares of the company’s stock worth $348,000 after acquiring an additional 2,155 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of GlobalFoundries by 16.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company’s stock worth $8,633,000 after purchasing an additional 29,785 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in GlobalFoundries by 104.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,852 shares of the company’s stock valued at $4,220,000 after purchasing an additional 53,509 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in GlobalFoundries by 1,935.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after purchasing an additional 120,960 shares in the last quarter.

GlobalFoundries Trading Down 3.0 %

Shares of NASDAQ:GFS opened at $36.89 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. The company has a market cap of $20.40 billion, a P/E ratio of -76.85, a PEG ratio of 1.42 and a beta of 1.57. The stock’s fifty day moving average price is $40.23 and its 200-day moving average price is $41.16.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Sell-side analysts expect that GlobalFoundries will post 1.31 earnings per share for the current year.

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.