Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) Target Price at $47.09

Shares of GlobalFoundries Inc. (NASDAQ:GFSGet Free Report) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.09.

A number of research firms have issued reports on GFS. Citigroup cut their price target on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Morgan Stanley cut their price target on GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. UBS Group cut their price target on GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of GlobalFoundries in a research note on Monday, May 5th.

View Our Latest Stock Report on GlobalFoundries

Institutional Investors Weigh In On GlobalFoundries

Institutional investors and hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina increased its stake in GlobalFoundries by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock worth $1,855,000 after purchasing an additional 280 shares during the period. SBI Securities Co. Ltd. increased its stake in GlobalFoundries by 26.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company’s stock worth $57,000 after purchasing an additional 320 shares during the period. Signaturefd LLC increased its stake in GlobalFoundries by 51.3% in the first quarter. Signaturefd LLC now owns 1,026 shares of the company’s stock worth $38,000 after purchasing an additional 348 shares during the period. Mariner LLC grew its position in shares of GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company’s stock worth $348,000 after buying an additional 420 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of GlobalFoundries by 1.7% during the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock worth $1,113,000 after buying an additional 438 shares in the last quarter.

GlobalFoundries Trading Up 2.4%

Shares of NASDAQ:GFS opened at $37.60 on Friday. The stock’s 50-day simple moving average is $36.16 and its two-hundred day simple moving average is $39.18. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of -78.33, a PEG ratio of 1.42 and a beta of 1.50. GlobalFoundries has a 52-week low of $29.77 and a 52-week high of $61.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFSGet Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. Analysts expect that GlobalFoundries will post 1.31 EPS for the current year.

GlobalFoundries Company Profile

(Get Free Report

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.

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Analyst Recommendations for GlobalFoundries (NASDAQ:GFS)

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