GlobalFoundries Inc. (NASDAQ:GFS) Given Average Rating of “Hold” by Brokerages

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $50.21.

A number of analysts recently weighed in on GFS shares. Robert W. Baird decreased 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. Citigroup dropped their price objective on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald restated a “neutral” rating and set a $40.00 price objective on shares of GlobalFoundries in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, UBS Group began coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price objective on the stock.

Institutional Trading of GlobalFoundries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of GlobalFoundries during the third quarter worth $34,000. US Bancorp DE lifted its position in shares of 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 buying an additional 530 shares during the period. AM Squared Ltd bought a new position in shares of GlobalFoundries in the third quarter valued at approximately $60,000. Advisors Asset Management Inc. grew its holdings in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of GlobalFoundries during the third quarter valued at approximately $66,000.

GlobalFoundries Price Performance

Shares of GFS opened at $43.10 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. GlobalFoundries has a 1-year low of $35.85 and a 1-year high of $61.98. The stock has a market cap of $23.78 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 8.70 and a beta of 1.57. The firm has a fifty day moving average price of $43.08 and a 200 day moving average price of $43.89.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.47 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that GlobalFoundries will post 1.22 EPS for the current year.

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.