UBS Group Cuts GlobalFoundries (NASDAQ:GFS) Price Target to $45.00

GlobalFoundries (NASDAQ:GFS) had its price target lowered by UBS Group from $47.00 to $45.00 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on GFS. Robert W. Baird lowered their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Susquehanna reduced their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday. Finally, Evercore ISI reduced their target price on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.64.

GlobalFoundries Trading Up 0.8 %

Shares of GFS stock opened at $43.16 on Wednesday. The business’s 50 day moving average is $42.31 and its two-hundred day moving average is $42.27. The company has a market cap of $23.81 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 12 month low of $35.85 and a 12 month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. Equities analysts predict that GlobalFoundries will post 1.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock valued at $2,278,373,000 after buying an additional 3,721,153 shares during the last quarter. Analog Century Management LP bought a new position in shares of GlobalFoundries in the fourth quarter valued at about $50,298,000. Adage Capital Partners GP L.L.C. bought a new position in shares of GlobalFoundries in the fourth quarter valued at about $16,091,000. Invesco Ltd. raised its holdings in shares of GlobalFoundries by 10.5% in the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock valued at $100,058,000 after buying an additional 221,731 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of GlobalFoundries in the third quarter valued at about $8,361,000.

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.