Shares of GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) traded up 5.4% during mid-day trading on Monday . The stock traded as high as $44.80 and last traded at $43.98. 544,588 shares traded hands during trading, a decline of 66% from the average session volume of 1,621,634 shares. The stock had previously closed at $41.72.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on GFS shares. Needham & Company LLC reissued a "hold" rating on shares of GlobalFoundries in a report on Wednesday, November 6th. UBS Group started coverage on shares of GlobalFoundries in a research report on Wednesday, November 20th. They issued a "neutral" rating and a $47.00 price objective for the company. Citigroup dropped their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald restated a "neutral" rating and set a $40.00 target price on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Susquehanna decreased their price objective on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $50.21.
Get Our Latest Stock Report on GFS
GlobalFoundries Trading Up 5.5 %
The stock has a market cap of $24.29 billion, a P/E ratio of 32.86, a P/E/G ratio of 10.71 and a beta of 1.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The stock's fifty day moving average is $42.12 and its 200 day moving average is $44.87.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $0.47 EPS. The firm's revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts predict that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.
Institutional Trading of GlobalFoundries
A number of institutional investors have recently bought and sold shares of the stock. Ghisallo Capital Management LLC lifted its stake in shares of GlobalFoundries by 200.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company's stock valued at $15,168,000 after purchasing an additional 200,000 shares during the period. Quantbot Technologies LP increased its position in shares of GlobalFoundries by 89.0% in the third quarter. Quantbot Technologies LP now owns 73,762 shares of the company's stock valued at $2,969,000 after buying an additional 34,731 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of GlobalFoundries by 1,935.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company's stock valued at $5,120,000 after buying an additional 120,960 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in GlobalFoundries by 52.0% in the 2nd quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company's stock worth $3,218,000 after acquiring an additional 21,765 shares in the last quarter. Finally, Versor Investments LP raised its position in GlobalFoundries by 167.7% during the third quarter. Versor Investments LP now owns 19,008 shares of the company's stock worth $765,000 after acquiring an additional 11,908 shares during the period.
About GlobalFoundries
(
Get Free Report)
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.
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