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

Shares of GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) have received a consensus recommendation of "Hold" from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $50.00.

Several equities analysts have recently issued reports on the company. Susquehanna reduced their target price on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. UBS Group reduced their price objective on GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday. Needham & Company LLC raised 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. Robert W. Baird cut their price target 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. Finally, Citigroup decreased their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th.

GlobalFoundries Stock Up 8.6 %

NASDAQ:GFS traded up $3.45 during trading hours on Friday, hitting $43.55. 4,950,342 shares of the company traded hands, compared to its average volume of 2,093,711. 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 company has a market cap of $24.03 billion, a PE ratio of 32.50, a PEG ratio of 8.23 and a beta of 1.56. The firm's 50-day simple moving average is $42.37 and its 200-day simple moving average is $42.33. GlobalFoundries has a one year low of $35.85 and a one year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released 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 net margin of 10.95% and a return on equity of 6.87%. Equities analysts predict that GlobalFoundries will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in shares of GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 411 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in GlobalFoundries in the 3rd quarter worth about $34,000. Blue Trust Inc. raised its holdings in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after acquiring an additional 745 shares in the last quarter. US Bancorp DE boosted its position 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 acquiring an additional 530 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries during the fourth quarter worth about $52,000.

About GlobalFoundries

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.