GlobalFoundries Inc. (NASDAQ:GFS) Given Average Rating of "Moderate Buy" by Brokerages

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $48.08.

Several analysts have recently weighed in on GFS shares. Citigroup lifted their target price on GlobalFoundries from $35.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday. Morgan Stanley decreased their target price on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Wall Street Zen raised GlobalFoundries from a "hold" rating to a "buy" rating in a report on Saturday. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Finally, UBS Group decreased their price objective on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th.

GlobalFoundries Trading Up 7.0%

GFS stock opened at $41.66 on Wednesday. The firm has a fifty day moving average price of $37.76 and a 200 day moving average price of $38.63. GlobalFoundries has a fifty-two week low of $29.77 and a fifty-two week high of $61.98. 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 firm has a market cap of $23.03 billion, a PE ratio of -122.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a negative net margin of 2.77% and a positive return on equity of 6.28%. GlobalFoundries's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Sell-side analysts anticipate that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of GlobalFoundries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its position in GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after acquiring an additional 411 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in GlobalFoundries in the 1st quarter valued at about $33,000. Summit Securities Group LLC grew its position in GlobalFoundries by 142.2% in the 1st quarter. Summit Securities Group LLC now owns 1,298 shares of the company's stock valued at $48,000 after acquiring an additional 762 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries in the 4th quarter valued at about $52,000. Finally, Graney & King LLC acquired a new position in GlobalFoundries in the 4th quarter valued at about $68,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.