Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) PT at $50.21

GlobalFoundries Inc. (NASDAQ:GFS) has earned an average recommendation of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $50.21.

A number of research analysts recently issued reports on GFS shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. TD Cowen lowered their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI cut their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Finally, Robert W. Baird dropped their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of GlobalFoundries during the 3rd quarter worth $34,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of GlobalFoundries in the 2nd quarter valued at approximately $59,000. US Bancorp DE grew its holdings in shares of GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after purchasing an additional 530 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GlobalFoundries during the 2nd quarter worth approximately $65,000. Finally, CWM LLC lifted its stake in GlobalFoundries by 38.6% in the 2nd 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.

GlobalFoundries Stock Down 2.9 %

GFS stock opened at $42.85 on Tuesday. The company has a 50 day moving average of $40.78 and a two-hundred day moving average of $45.87. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 10.98 and a beta of 1.53. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $62.61. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities analysts anticipate that GlobalFoundries will post 1.22 earnings per share 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.