GlobalFoundries Inc. (NASDAQ:GFS) Receives Average Recommendation of “Hold” from Analysts

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have received a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $50.21.

A number of research analysts have weighed in on the company. Susquehanna reduced 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. UBS Group initiated coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price objective for the company. Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th.

Institutional Trading of GlobalFoundries

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after purchasing an additional 1,160,403 shares during the period. Marshall Wace LLP increased its stake in GlobalFoundries by 108.6% during the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after acquiring an additional 1,299,687 shares during the period. State Street Corp increased its holdings in GlobalFoundries by 8.3% in the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after buying an additional 98,084 shares during the period. Dimensional Fund Advisors LP boosted its holdings in GlobalFoundries by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock valued at $33,063,000 after purchasing an additional 77,581 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of GlobalFoundries by 16.0% in the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after purchasing an additional 86,740 shares in the last quarter.

GlobalFoundries Price Performance

GlobalFoundries stock opened at $41.72 on Friday. The business has a fifty day moving average of $42.07 and a two-hundred day moving average of $44.96. GlobalFoundries has a one year low of $35.85 and a one year high of $62.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The company has a market cap of $23.02 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 10.71 and a beta of 1.59.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. As a group, analysts predict that GlobalFoundries will post 1.22 earnings per share for the current fiscal year.

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.