Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) PT at $49.64

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $49.64.

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. UBS Group dropped their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its holdings in shares of GlobalFoundries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock worth $1,855,000 after purchasing an additional 280 shares during the last quarter. Signaturefd LLC raised its stake in shares of GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after acquiring an additional 411 shares during the period. Mariner LLC increased its stake in GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company’s stock worth $348,000 after buying an additional 420 shares during the period. American Century Companies Inc. increased its stake in GlobalFoundries by 1.7% during the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock worth $1,113,000 after buying an additional 438 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares in the last quarter.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $39.74 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. GlobalFoundries has a one year low of $35.85 and a one year high of $61.98. The company’s 50-day simple moving average is $41.37 and its 200-day simple moving average is $41.71. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of -82.79, a PEG ratio of 1.42 and a beta of 1.57.

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