GlobalFoundries Inc. (NASDAQ:GFS) Receives Average Rating of “Moderate Buy” from Brokerages

GlobalFoundries Inc. (NASDAQ:GFS) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $49.64.

Several equities analysts recently commented on GFS shares. Morgan Stanley upped their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Robert W. Baird cut their target price on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. UBS Group lowered their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday. Susquehanna dropped their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS opened at $43.16 on Friday. The company has a market cap of $23.81 billion, a P/E ratio of 32.21, a P/E/G ratio of 8.23 and a beta of 1.56. The business has a fifty day simple moving average of $42.31 and a 200-day simple moving average of $42.22. GlobalFoundries has a 52 week low of $35.85 and a 52 week high of $61.98. 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 (NASDAQ:GFS) last posted its quarterly earnings results 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 net margin of 10.95% and a return on equity of 6.87%. Equities research analysts forecast that GlobalFoundries will post 1.22 EPS for the current year.

Institutional Trading of GlobalFoundries

Several large investors have recently bought and sold shares of GFS. Treasurer of the State of North Carolina boosted its stake in shares of GlobalFoundries by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock valued at $1,855,000 after purchasing an additional 280 shares during the period. DekaBank Deutsche Girozentrale boosted its position in GlobalFoundries by 4.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock valued at $357,000 after buying an additional 340 shares during the last quarter. Signaturefd LLC grew its stake in shares of GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after acquiring an additional 411 shares in the last quarter. Mariner LLC increased its position in shares of GlobalFoundries by 5.5% during the fourth quarter. Mariner LLC now owns 8,111 shares of the company’s stock worth $348,000 after acquiring an additional 420 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of GlobalFoundries by 1.7% in the fourth quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock worth $1,113,000 after acquiring an additional 438 shares in the last quarter.

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.