GlobalFoundries (NASDAQ:GFS) Stock Price Expected to Rise, Citigroup Analyst Says

GlobalFoundries (NASDAQ:GFS - Get Free Report) had its price target upped by research analysts at Citigroup from $35.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price target indicates a potential upside of 2.46% from the company's current price.

Other analysts also recently issued reports about the company. Argus began coverage on GlobalFoundries in a report on Tuesday, July 1st. They set a "buy" rating and a $52.00 price target for the company. Morgan Stanley cut their target price on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded GlobalFoundries from a "hold" rating to a "buy" rating in a research report on Saturday. Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Finally, UBS Group cut their target price on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.08.

GlobalFoundries Stock Down 1.6%

NASDAQ GFS traded down $0.67 during trading on Monday, reaching $40.99. 1,680,420 shares of the company's stock were exchanged, compared to its average volume of 1,835,807. The stock has a market cap of $22.66 billion, a P/E ratio of -120.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.77 and a current ratio of 2.51. The company has a 50 day moving average price of $37.76 and a two-hundred day moving average price of $38.63. GlobalFoundries has a 1 year low of $29.77 and a 1 year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. GlobalFoundries had a positive return on equity of 6.28% and a negative net margin of 2.77%. GlobalFoundries's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts anticipate that GlobalFoundries will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently added to or reduced their stakes in GFS. FMR LLC grew its holdings in shares of GlobalFoundries by 7.5% in the 4th quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after acquiring an additional 3,721,153 shares during the period. First Trust Advisors LP grew its holdings in shares of GlobalFoundries by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock worth $133,806,000 after acquiring an additional 40,527 shares during the period. Invesco Ltd. grew its holdings in shares of GlobalFoundries by 6.9% in the 1st quarter. Invesco Ltd. now owns 2,491,747 shares of the company's stock worth $91,970,000 after acquiring an additional 159,936 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in shares of GlobalFoundries by 5.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock worth $106,124,000 after acquiring an additional 132,634 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of GlobalFoundries by 8,540.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,472,634 shares of the company's stock worth $91,265,000 after acquiring an additional 2,444,018 shares during the period.

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.