GlobalFoundries Inc. (NASDAQ:GFS) Receives $50.21 Consensus PT from Analysts

by · The Markets Daily

GlobalFoundries Inc. (NASDAQ:GFS – Get Free Report) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $50.21.

A number of equities analysts have recently issued reports on GFS shares. Deutsche Bank Aktiengesellschaft reduced their price target on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Susquehanna reduced their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and issued a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Robert W. Baird dropped their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup decreased their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th.

Read Our Latest Research Report on GFS

Hedge Funds Weigh In On GlobalFoundries

A number of institutional investors have recently modified their holdings of GFS. FMR LLC increased its holdings in shares of GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after purchasing an additional 1,160,403 shares in the last quarter. Marshall Wace LLP increased its holdings in GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after buying an additional 1,299,687 shares in the last quarter. State Street Corp raised its position in shares of GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after acquiring an additional 98,084 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of GlobalFoundries by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock worth $33,063,000 after acquiring an additional 77,581 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after acquiring an additional 86,740 shares during the period.

GlobalFoundries Price Performance

Shares of GFS stock opened at $44.64 on Friday. The stock’s 50-day moving average is $42.21 and its 200 day moving average is $44.85. GlobalFoundries has a 1-year low of $35.85 and a 1-year high of $62.61. 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 company has a market cap of $24.63 billion, a P/E ratio of 33.31, a PEG ratio of 10.71 and a beta of 1.59.

GlobalFoundries (NASDAQ:GFS – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts predict that GlobalFoundries will post 1.22 earnings per share for the current fiscal 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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