GlobalFoundries Inc. (NASDAQ:GFS) Receives $49.64 Consensus Target Price from Brokerages

GlobalFoundries Inc. (NASDAQ:GFS) has earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $49.64.

Several brokerages have recently weighed in on GFS. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, February 12th. Wedbush restated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Morgan Stanley upped their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, UBS Group reduced their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th.

Institutional Trading of GlobalFoundries

A number of institutional investors and hedge funds have recently modified their holdings of GFS. Treasurer of the State of North Carolina increased its position in shares of GlobalFoundries by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock valued at $1,855,000 after purchasing an additional 280 shares during the last quarter. Signaturefd LLC grew its position in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 411 shares during the period. Mariner LLC raised its position in GlobalFoundries by 5.5% in the fourth quarter. Mariner LLC now owns 8,111 shares of the company’s stock worth $348,000 after acquiring an additional 420 shares during the period. American Century Companies Inc. raised its position in GlobalFoundries by 1.7% in the fourth quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock worth $1,113,000 after acquiring an additional 438 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after acquiring an additional 463 shares during the last quarter.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $37.18 on Monday. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of -77.46, a PEG ratio of 1.42 and a beta of 1.57. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $39.87 and its 200-day moving average price is $41.09. GlobalFoundries has a 12 month low of $35.15 and a 12 month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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%. Equities research analysts forecast that GlobalFoundries will post 1.31 EPS for the current 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.