Evercore ISI Increases GlobalFoundries (NASDAQ:GFS) Price Target to $45.00

GlobalFoundries (NASDAQ:GFS) had its price target raised by equities researchers at Evercore ISI from $43.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 36.03% from the company’s current price.

Several other research firms also recently weighed in on GFS. UBS Group reduced their target price on GlobalFoundries from $43.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Arete Research set a $37.00 price target on GlobalFoundries in a research report on Wednesday, August 27th. BNP Paribas Exane assumed coverage on shares of GlobalFoundries in a research note on Friday, October 24th. They set an “outperform” rating and a $45.00 price objective on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $38.00 target price on shares of GlobalFoundries in a research report on Monday, October 27th. Finally, Arete raised GlobalFoundries from a “sell” rating to a “neutral” rating and set a $37.00 target price on the stock in a research report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.15.

GlobalFoundries Price Performance

GFS stock traded down $1.09 during trading on Thursday, hitting $33.08. The stock had a trading volume of 1,606,059 shares, compared to its average volume of 2,395,740. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.92 and a current ratio of 2.63. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of -157.60, a price-to-earnings-growth ratio of 1.36 and a beta of 1.49. The company’s 50 day moving average price is $34.31 and its two-hundred day moving average price is $36.08. GlobalFoundries has a 1-year low of $29.77 and a 1-year high of $47.69.

Institutional Trading of GlobalFoundries

Several hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of GlobalFoundries by 4.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 132,288 shares of the company’s stock valued at $5,053,000 after purchasing an additional 6,022 shares during the period. 111 Capital bought a new position in GlobalFoundries in the 2nd quarter valued at about $343,000. Vanguard Personalized Indexing Management LLC increased its stake in GlobalFoundries by 20.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,100 shares of the company’s stock valued at $615,000 after buying an additional 2,753 shares during the period. Signaturefd LLC raised its position in shares of GlobalFoundries by 51.3% during the 1st quarter. Signaturefd LLC now owns 1,026 shares of the company’s stock worth $38,000 after buying an additional 348 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of GlobalFoundries by 134.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,531 shares of the company’s stock worth $58,000 after acquiring an additional 877 shares during the period.

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.