GlobalFoundries Inc. (NASDAQ:GFS) Given Average Rating of “Hold” by Brokerages

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have been given an average rating of “Hold” by the fifteen research firms that are currently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $50.21.

A number of research analysts have issued reports on the stock. TD Cowen decreased their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird reduced their target price on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Susquehanna dropped their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI reduced their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th.

GlobalFoundries Stock Up 5.0 %

GlobalFoundries stock opened at $44.95 on Tuesday. GlobalFoundries has a 1-year low of $35.85 and a 1-year high of $62.61. The business has a fifty day moving average price of $40.46 and a 200-day moving average price of $46.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. The stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 10.45 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The business 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 6.87% and a net margin of 10.95%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. Equities research analysts forecast that GlobalFoundries will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GFS. DekaBank Deutsche Girozentrale raised its stake in shares of GlobalFoundries by 4.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock worth $357,000 after buying an additional 340 shares during the period. CWM LLC raised its position in GlobalFoundries by 38.6% during the second 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. Pacer Advisors Inc. raised its position in GlobalFoundries by 1.7% during the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after acquiring an additional 444 shares during the period. Royal London Asset Management Ltd. lifted its holdings in GlobalFoundries by 1.3% during the second quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock valued at $1,758,000 after purchasing an additional 450 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 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.