GlobalFoundries Inc. (NASDAQ:GFS) Given Average Rating of "Hold" by Brokerages

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) has received a consensus rating of "Hold" from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $50.21.

A number of brokerages recently issued reports on GFS. Cantor Fitzgerald reissued a "neutral" rating and set a $40.00 price objective on shares of GlobalFoundries in a research report on Wednesday, November 6th. Citigroup dropped their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, November 5th. Robert W. Baird decreased their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Morgan Stanley lowered GlobalFoundries from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $53.00 to $43.00 in a research report on Monday, October 28th.

Hedge Funds Weigh In On GlobalFoundries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in GlobalFoundries by 12.1% in the second quarter. Rhumbline Advisers now owns 87,029 shares of the company's stock worth $4,400,000 after acquiring an additional 9,427 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of GlobalFoundries by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company's stock worth $33,063,000 after purchasing an additional 77,581 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of GlobalFoundries by 267.7% during the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company's stock worth $17,901,000 after purchasing an additional 257,749 shares during the last quarter. Amalgamated Bank grew its stake in shares of GlobalFoundries by 17.5% during the second quarter. Amalgamated Bank now owns 5,267 shares of the company's stock worth $266,000 after purchasing an additional 785 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in GlobalFoundries by 17.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,687 shares of the company's stock valued at $237,000 after buying an additional 688 shares during the last quarter.

GlobalFoundries Trading Up 1.6 %

Shares of GlobalFoundries stock traded up $0.67 during mid-day trading on Wednesday, hitting $41.84. The stock had a trading volume of 1,212,820 shares, compared to its average volume of 1,256,047. The firm has a market cap of $23.09 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 10.71 and a beta of 1.57. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $43.18 and a two-hundred day moving average of $44.06. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that GlobalFoundries will post 1.22 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.