Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) Price Target at $49.64

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $49.64.

A number of equities analysts recently commented on the company. UBS Group reduced their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On GlobalFoundries

A number of institutional investors have recently modified their holdings of GFS. Creative Planning acquired a new stake in shares of GlobalFoundries in the third quarter valued at $295,000. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries during the 3rd quarter worth $34,000. US Bancorp DE grew its stake in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after purchasing an additional 530 shares in the last quarter. Olympiad Research LP acquired a new position in GlobalFoundries during the 3rd quarter worth $334,000. Finally, Versor Investments LP grew its stake in GlobalFoundries by 167.7% during the 3rd quarter. Versor Investments LP now owns 19,008 shares of the company’s stock worth $765,000 after purchasing an additional 11,908 shares in the last quarter.

GlobalFoundries Stock Performance

Shares of NASDAQ:GFS opened at $40.00 on Thursday. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. The firm has a market capitalization of $22.07 billion, a PE ratio of -83.33, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The business’s 50 day moving average price is $41.44 and its 200-day moving average price is $41.77.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. As a group, equities research analysts expect that GlobalFoundries will post 1.31 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.