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

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have received an average rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat.com 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 twelve-month target price among brokerages that have covered the stock in the last year is $50.21.

A number of analysts recently issued reports on GFS shares. UBS Group initiated coverage on shares of GlobalFoundries in a research report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup lowered their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, Morgan Stanley lowered GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $53.00 to $43.00 in a research report on Monday, October 28th.

GlobalFoundries Stock Up 0.9 %

GFS opened at $43.25 on Tuesday. GlobalFoundries has a 12 month low of $35.85 and a 12 month high of $62.61. The business has a 50-day moving average of $40.86 and a two-hundred day moving average of $45.74. 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 $23.86 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 10.46 and a beta of 1.53.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in GlobalFoundries during the third quarter worth $34,000. Massmutual Trust Co. FSB ADV bought a new position in GlobalFoundries in the 2nd quarter valued at about $59,000. US Bancorp DE boosted its holdings in shares of GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after acquiring an additional 530 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in GlobalFoundries during the 2nd quarter valued at $65,000. Finally, CWM LLC grew its holdings 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.

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.