Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) Price Target at $57.54

GlobalFoundries Inc. (NASDAQ:GFS) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $56.38.

GFS has been the topic of several analyst reports. Cantor Fitzgerald cut their target price on GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. Evercore ISI reduced their price objective on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

Institutional Investors Weigh In On GlobalFoundries

Several large investors have recently added to or reduced their stakes in GFS. CWM LLC lifted its holdings in GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of GlobalFoundries by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock valued at $1,333,000 after buying an additional 444 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of GlobalFoundries by 1.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock valued at $1,758,000 after buying an additional 450 shares in the last quarter. Profund Advisors LLC boosted its holdings in GlobalFoundries by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock worth $2,307,000 after buying an additional 515 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in GlobalFoundries by 8.7% in the 1st quarter. Meeder Asset Management Inc. now owns 7,289 shares of the company’s stock valued at $380,000 after buying an additional 583 shares in the last quarter.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $40.85 on Monday. GlobalFoundries has a 12 month low of $38.45 and a 12 month high of $62.61. The firm has a market capitalization of $22.54 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 6.45 and a beta of 1.52. The firm has a fifty day simple moving average of $42.17 and a two-hundred day simple moving average of $47.81. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.28 by $0.10. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Analysts forecast that GlobalFoundries will post 1.09 EPS for the current fiscal 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.