GlobalFoundries Inc. (NASDAQ:GFS) Receives $49.64 Average Target Price from Analysts

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $49.64.

Several brokerages have recently weighed in on GFS. UBS Group cut their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Wednesday, February 12th.

Institutional Trading of GlobalFoundries

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock valued at $2,278,373,000 after acquiring an additional 3,721,153 shares in the last quarter. Analog Century Management LP acquired a new stake in GlobalFoundries in the fourth quarter valued at approximately $50,298,000. BNP Paribas Financial Markets acquired a new stake in GlobalFoundries in the fourth quarter valued at approximately $22,912,000. Adage Capital Partners GP L.L.C. acquired a new stake in GlobalFoundries in the fourth quarter valued at approximately $16,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in GlobalFoundries in the fourth quarter valued at approximately $11,778,000.

GlobalFoundries Price Performance

NASDAQ:GFS opened at $36.86 on Thursday. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of -76.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $41.14 and its two-hundred day moving average is $41.61. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Research analysts expect that GlobalFoundries will post 1.31 EPS for the current year.

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.