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

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

A number of other analysts have also commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 price objective on shares of GlobalFoundries in a research note on Wednesday, November 6th. Citigroup reduced their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Evercore ISI reduced their price target on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GlobalFoundries currently has an average rating of “Moderate Buy” and a consensus target price of $49.64.

GlobalFoundries Price Performance

NASDAQ GFS opened at $43.16 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. The company has a market cap of $23.81 billion, a PE ratio of 32.21, a PEG ratio of 8.23 and a beta of 1.56. The stock’s 50-day moving average price is $42.31 and its two-hundred day moving average price is $42.27.

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

Hedge Funds Weigh In On GlobalFoundries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. raised its position in GlobalFoundries by 2.5% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 28,351 shares of the company’s stock valued at $1,218,000 after acquiring an additional 683 shares in the last quarter. Analog Century Management LP bought a new position in GlobalFoundries during the fourth quarter valued at approximately $50,298,000. Adage Capital Partners GP L.L.C. bought a new position in GlobalFoundries during the fourth quarter valued at approximately $16,091,000. Price T Rowe Associates Inc. MD grew its holdings in GlobalFoundries by 17.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,187 shares of the company’s stock valued at $1,339,000 after purchasing an additional 4,624 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in GlobalFoundries by 121.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 22,155 shares of the company’s stock valued at $951,000 after purchasing an additional 12,142 shares during the last quarter.

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.