GlobalFoundries Inc. (NASDAQ:GFS) Given Average Rating of “Moderate Buy” by Analysts

GlobalFoundries Inc. (NASDAQ:GFS) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $49.64.

A number of research firms have recently weighed in on GFS. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. Finally, UBS Group reduced their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th.

Institutional Investors Weigh In On GlobalFoundries

A number of hedge funds have recently added to or reduced their stakes in GFS. FMR LLC lifted its stake in GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock valued at $2,278,373,000 after buying an additional 3,721,153 shares during the last quarter. Analog Century Management LP bought a new stake in shares of GlobalFoundries during the fourth quarter valued at about $50,298,000. BNP Paribas Financial Markets bought a new stake in shares of GlobalFoundries during the fourth quarter valued at about $22,912,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of GlobalFoundries during the fourth quarter valued at about $16,091,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of GlobalFoundries during the fourth quarter valued at about $11,778,000.

GlobalFoundries Stock Down 1.0 %

GFS stock opened at $36.86 on Thursday. GlobalFoundries has a twelve month low of $35.85 and a twelve month high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $20.34 billion, a P/E ratio of -76.79, a PEG ratio of 1.42 and a beta of 1.57. The firm has a 50 day simple moving average of $41.14 and a 200-day simple moving average of $41.61.

GlobalFoundries (NASDAQ:GFS) 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 positive return on equity of 6.05% and a negative net margin of 3.93%. On average, equities research analysts predict that GlobalFoundries will post 1.31 earnings per share for the current fiscal 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.