GlobalFoundries Inc. (NASDAQ:GFS) Receives Consensus Recommendation of "Hold" from Analysts

Shares of GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) have been assigned an average recommendation of "Hold" from the fourteen brokerages that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $54.85.

Several research analysts have commented on GFS shares. Morgan Stanley lowered GlobalFoundries from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $53.00 to $43.00 in a research report on Monday. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Evercore ISI lowered their price objective on shares of GlobalFoundries from $77.00 to $71.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of GlobalFoundries in a report on Wednesday, August 7th. Finally, TD Cowen lowered their price target on GlobalFoundries from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th.

Institutional Investors Weigh In On GlobalFoundries

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in GlobalFoundries in the 3rd quarter valued at approximately $34,000. US Bancorp DE increased its position in shares of GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company's stock valued at $49,000 after buying an additional 530 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of GlobalFoundries in the 2nd quarter worth about $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GlobalFoundries in the 2nd quarter worth about $65,000. Finally, CWM LLC increased its holdings in GlobalFoundries by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company's stock valued at $68,000 after acquiring an additional 373 shares in the last quarter.

GlobalFoundries Stock Up 0.4 %

GlobalFoundries stock traded up $0.13 during mid-day trading on Friday, hitting $36.63. The company had a trading volume of 1,503,813 shares, compared to its average volume of 1,555,757. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 6.16 and a beta of 1.52. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 1 year low of $35.87 and a 1 year high of $62.61. The business has a fifty day moving average of $40.81 and a 200 day moving average of $46.73.

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