GlobalFoundries (NASDAQ:GFS) Price Target Lowered to $35.00 at Citigroup

GlobalFoundries (NASDAQ:GFS) had its price objective reduced by Citigroup from $40.00 to $35.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on GFS. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. UBS Group reduced their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.29.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $33.33 on Friday. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of -69.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. 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 has a 50-day moving average of $38.39 and a 200 day moving average of $40.68. GlobalFoundries has a 12 month low of $29.77 and a 12 month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, sell-side analysts forecast that GlobalFoundries will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On GlobalFoundries

Several hedge funds and other institutional investors have recently bought and sold shares of GFS. Rhumbline Advisers boosted its stake in GlobalFoundries by 1.5% in the first quarter. Rhumbline Advisers now owns 90,226 shares of the company’s stock valued at $3,330,000 after acquiring an additional 1,311 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of GlobalFoundries by 9,009.1% in the 1st quarter. GAMMA Investing LLC now owns 24,139 shares of the company’s stock valued at $891,000 after purchasing an additional 23,874 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of GlobalFoundries in the 4th quarter valued at about $204,000. Toronto Dominion Bank grew its stake in GlobalFoundries by 110.2% during the 4th quarter. Toronto Dominion Bank now owns 16,500 shares of the company’s stock worth $708,000 after buying an additional 8,649 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in GlobalFoundries during the 4th quarter worth approximately $4,494,000.

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.