GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.54.
A number of research analysts have commented on the company. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price target on shares of GlobalFoundries in a research note on Tuesday, July 16th. Evercore ISI dropped their price objective on GlobalFoundries from $77.00 to $71.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. TD Cowen reduced their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of GlobalFoundries in a research report on Wednesday, August 7th.
View Our Latest Research Report on GFS
NASDAQ:GFS opened at $39.65 on Monday. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 6.36 and a beta of 1.52. GlobalFoundries has a 1 year low of $38.45 and a 1 year high of $62.61. The business has a 50 day simple moving average of $43.08 and a 200-day simple moving average of $48.20. 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 (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.28 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. GlobalFoundries's quarterly revenue was down 11.5% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. Equities analysts forecast that GlobalFoundries will post 1.09 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GFS. TD Asset Management Inc lifted its holdings in shares of GlobalFoundries by 5.5% in the fourth quarter. TD Asset Management Inc now owns 32,704 shares of the company's stock valued at $1,982,000 after purchasing an additional 1,716 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of GlobalFoundries by 9.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 206,183 shares of the company's stock valued at $12,495,000 after acquiring an additional 17,860 shares during the last quarter. Royal London Asset Management Ltd. increased its position in shares of GlobalFoundries by 9.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 28,000 shares of the company's stock valued at $1,697,000 after acquiring an additional 2,511 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of GlobalFoundries by 15.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 34,236 shares of the company's stock valued at $2,075,000 after acquiring an additional 4,571 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of GlobalFoundries in the fourth quarter valued at about $5,252,000.
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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