GlobalFoundries Inc. (NASDAQ:GFS) Given Consensus Recommendation of "Moderate Buy" by Brokerages

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen research firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $57.54.

A number of research analysts have recently commented on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price objective on shares of GlobalFoundries in a report on Tuesday, July 16th. Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of GlobalFoundries in a report on Wednesday, August 7th. TD Cowen reduced their price objective on GlobalFoundries from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on GlobalFoundries from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On GlobalFoundries

Large investors have recently bought and sold shares of the business. Mubadala Investment Co PJSC acquired a new stake in shares of GlobalFoundries during the fourth quarter worth $28,451,821,000. Marshall Wace LLP grew its position in shares of GlobalFoundries by 108.6% during the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company's stock worth $126,242,000 after purchasing an additional 1,299,687 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of GlobalFoundries by 7.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company's stock worth $59,018,000 after purchasing an additional 68,626 shares during the period. Dimensional Fund Advisors LP raised its position in GlobalFoundries by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company's stock valued at $33,063,000 after purchasing an additional 77,581 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in GlobalFoundries by 25.9% during the first quarter. ProShare Advisors LLC now owns 544,325 shares of the company's stock worth $28,365,000 after acquiring an additional 112,149 shares in the last quarter.

GlobalFoundries Stock Up 0.2 %

GlobalFoundries stock traded up $0.08 during mid-day trading on Monday, hitting $39.73. The company's stock had a trading volume of 1,108,435 shares, compared to its average volume of 1,578,763. The firm's 50 day moving average is $43.08 and its 200 day moving average is $48.20. The company has a market cap of $21.92 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 6.36 and a beta of 1.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. GlobalFoundries has a 52-week low of $38.45 and a 52-week high of $62.61.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.10. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $0.45 EPS. The business's revenue for the quarter was down 11.5% on a year-over-year basis. On average, analysts anticipate that GlobalFoundries will post 1.09 earnings per share for the current year.

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.