GlobalFoundries Inc. (NASDAQ:GFS) Receives $49.64 Consensus Target Price from Brokerages

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $49.64.

Several analysts recently weighed in on GFS shares. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. UBS Group reduced their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $31.54 on Monday. The business has a fifty day simple moving average of $39.52 and a two-hundred day simple moving average of $41.02. The firm has a market capitalization of $17.44 billion, a P/E ratio of -65.71, a P/E/G ratio of 1.42 and a beta of 1.54. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries has a 12 month low of $28.34 and a 12 month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data 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 positive return on equity of 6.05% and a negative net margin of 3.93%. On average, equities analysts forecast that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GlobalFoundries

Large investors have recently made changes to their positions in the company. FMR LLC boosted 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 worth $2,278,373,000 after buying an additional 3,721,153 shares during the last quarter. First Trust Advisors LP raised its position in GlobalFoundries by 1.3% in the fourth quarter. First Trust Advisors LP now owns 3,118,293 shares of the company’s stock worth $133,806,000 after acquiring an additional 40,527 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of GlobalFoundries by 5.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company’s stock worth $106,124,000 after acquiring an additional 132,634 shares during the last quarter. Invesco Ltd. grew its position in shares of GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock valued at $100,058,000 after acquiring an additional 221,731 shares during the period. Finally, State Street Corp increased its stake in shares of GlobalFoundries by 8.3% in the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after purchasing an additional 98,084 shares in 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.