GlobalFoundries Inc. (NASDAQ:GFS) Receives Consensus Rating of “Hold” from Analysts

GlobalFoundries Inc. (NASDAQ:GFS) has been given a consensus recommendation of “Hold” by the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $54.85.

GFS has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a report on Wednesday, August 7th. TD Cowen decreased their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald cut their price objective on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Finally, Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $53.00 to $43.00 in a report on Monday.

Hedge Funds Weigh In On GlobalFoundries

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of GlobalFoundries in the 3rd quarter valued at $34,000. US Bancorp DE boosted its position in GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in shares of GlobalFoundries during the second quarter valued at about $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GlobalFoundries in the second quarter worth about $65,000. Finally, CWM LLC increased its holdings in shares of GlobalFoundries by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after buying an additional 373 shares during the period.

GlobalFoundries Trading Down 4.2 %

Shares of GFS opened at $36.50 on Friday. GlobalFoundries has a fifty-two week low of $35.87 and a fifty-two week high of $62.61. The business has a 50-day moving average of $40.96 and a 200 day moving average of $46.80. The firm has a market cap of $20.14 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 6.35 and a beta of 1.52. 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 posted its earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The company’s revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. As a group, research analysts forecast that GlobalFoundries will post 1.09 EPS 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.