GlobalFoundries (NASDAQ:GFS) Given New $45.00 Price Target at UBS Group

GlobalFoundries (NASDAQ:GFS - Free Report) had its price objective reduced by UBS Group from $47.00 to $45.00 in a research note published on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

GFS has been the topic of several other reports. Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Wednesday. Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on GlobalFoundries from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated a "neutral" rating and set a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Robert W. Baird reduced their price target on GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, GlobalFoundries presently has an average rating of "Moderate Buy" and an average price target of $49.64.

GlobalFoundries Price Performance

Shares of GFS stock traded up $0.34 on Wednesday, reaching $43.16. The company had a trading volume of 2,212,626 shares, compared to its average volume of 1,647,492. The stock has a market capitalization of $23.81 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. 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 business's 50-day moving average is $42.31 and its 200 day moving average is $42.22. GlobalFoundries has a one year low of $35.85 and a one year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its 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 return on equity of 6.87% and a net margin of 10.95%. Equities research analysts forecast that GlobalFoundries will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On GlobalFoundries

A number of institutional investors and hedge funds have recently modified their holdings of GFS. FMR LLC raised its position in shares of GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after acquiring an additional 3,721,153 shares during the period. First Trust Advisors LP lifted its holdings in GlobalFoundries by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock valued at $133,806,000 after purchasing an additional 40,527 shares in the last quarter. Invesco Ltd. raised its position in shares of GlobalFoundries by 10.5% in the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock valued at $100,058,000 after buying an additional 221,731 shares during the last quarter. State Street Corp boosted its holdings in shares of GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company's stock worth $51,341,000 after purchasing an additional 98,084 shares during the last quarter. Finally, Analog Century Management LP purchased a new stake in GlobalFoundries in the 4th quarter valued at $50,298,000.

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.