GlobalFoundries Inc. (NASDAQ:GFS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

GlobalFoundries Inc. (NASDAQ:GFS) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $47.09.

GFS has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. UBS Group cut their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of GlobalFoundries in a report on Monday, May 5th. Needham & Company LLC raised 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. Finally, Morgan Stanley lowered their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th.

Institutional Investors Weigh In On GlobalFoundries

A number of hedge funds have recently modified their holdings of GFS. FMR LLC increased its position in GlobalFoundries by 7.5% during the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock worth $2,278,373,000 after purchasing an additional 3,721,153 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of GlobalFoundries by 1.3% in the fourth quarter. First Trust Advisors LP now owns 3,118,293 shares of the company’s stock valued at $133,806,000 after purchasing an additional 40,527 shares during the period. Invesco Ltd. boosted its stake in shares of GlobalFoundries by 6.9% in the first quarter. Invesco Ltd. now owns 2,491,747 shares of the company’s stock valued at $91,970,000 after purchasing an additional 159,936 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in GlobalFoundries by 5.7% in the fourth 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. Finally, Pacer Advisors Inc. lifted its stake in GlobalFoundries by 8,540.7% in the first quarter. Pacer Advisors Inc. now owns 2,472,634 shares of the company’s stock worth $91,265,000 after acquiring an additional 2,444,018 shares during the last quarter.

GlobalFoundries Price Performance

GFS stock opened at $39.13 on Tuesday. GlobalFoundries has a 12 month low of $29.77 and a 12 month high of $61.98. 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 has a 50-day moving average price of $35.77 and a 200 day moving average price of $39.91. The stock has a market cap of $21.64 billion, a PE ratio of -81.52, a P/E/G ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 EPS. Equities research analysts anticipate that GlobalFoundries will post 1.31 earnings per share for the current 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.