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

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have been assigned a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $50.21.

A number of equities research analysts recently commented on GFS shares. Morgan Stanley lowered GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $40.00 price target on shares of GlobalFoundries in a research report on Wednesday, November 6th. Evercore ISI decreased their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On GlobalFoundries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in GlobalFoundries by 12.1% in the second quarter. Rhumbline Advisers now owns 87,029 shares of the company’s stock valued at $4,400,000 after purchasing an additional 9,427 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of GlobalFoundries by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock valued at $33,063,000 after buying an additional 77,581 shares during the period. Renaissance Technologies LLC increased its position in shares of GlobalFoundries by 267.7% in the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock valued at $17,901,000 after buying an additional 257,749 shares in the last quarter. Amalgamated Bank raised its stake in GlobalFoundries by 17.5% during the 2nd quarter. Amalgamated Bank now owns 5,267 shares of the company’s stock worth $266,000 after buying an additional 785 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in GlobalFoundries by 17.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,687 shares of the company’s stock worth $237,000 after acquiring an additional 688 shares in the last quarter.

GlobalFoundries Stock Up 0.9 %

Shares of NASDAQ GFS opened at $41.17 on Wednesday. GlobalFoundries has a 52-week low of $35.85 and a 52-week high of $61.98. 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 business has a fifty day moving average of $43.28 and a two-hundred day moving average of $44.07. The stock has a market cap of $22.72 billion, a PE ratio of 30.72, a PEG ratio of 10.71 and a beta of 1.57.

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