GlobalFoundries Inc. (NASDAQ:GFS) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen ratings firms that are covering the company, MarketBeat reports. Six 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 brokers that have issued a report on the stock in the last year is $47.46.

GFS has been the subject of several recent analyst reports. Argus initiated coverage on shares of GlobalFoundries in a research note on Tuesday, July 1st. They set a "buy" rating and a $52.00 price objective for the company. Citigroup boosted their price objective on shares of GlobalFoundries from $35.00 to $42.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. UBS Group reduced their price objective on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Morgan Stanley reduced their price objective on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS remained flat at $41.23 during trading hours on Wednesday. 1,189,146 shares of the stock traded hands, compared to its average volume of 1,842,564. GlobalFoundries has a twelve month low of $29.77 and a twelve month high of $61.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.77. The firm has a market capitalization of $22.80 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50. The company's 50 day moving average is $38.10 and its two-hundred day moving average is $38.56.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The business 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%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities research analysts predict that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of GlobalFoundries

Several large investors have recently made changes to their positions in GFS. Signaturefd LLC boosted its holdings in shares of 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 during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of GlobalFoundries in the 1st quarter valued at $33,000. Summit Securities Group LLC boosted its holdings in shares of 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 during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of GlobalFoundries in the 4th quarter valued at $52,000. Finally, Graney & King LLC purchased a new stake in shares of GlobalFoundries in the 4th quarter valued at $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.