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

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $47.09.

Several equities research analysts recently issued reports on GFS shares. Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Morgan Stanley lowered their target price on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research report on Wednesday, February 12th. Wedbush reissued an "outperform" rating and set a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, UBS Group reduced their target price on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th.

GlobalFoundries Stock Down 2.5%

GFS stock traded down $0.93 during trading on Tuesday, reaching $36.55. 1,490,190 shares of the stock were exchanged, compared to its average volume of 1,825,596. The firm has a market cap of $20.21 billion, a P/E ratio of -76.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The firm's 50 day moving average is $35.75 and its 200 day moving average is $39.78. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries has a twelve month low of $29.77 and a twelve month 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 EPS for the quarter, beating analysts' consensus estimates 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 3.93% and a positive return on equity of 6.05%. GlobalFoundries's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. As a group, research analysts forecast that GlobalFoundries will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after acquiring an additional 411 shares during the period. Banque Cantonale Vaudoise bought a new stake in GlobalFoundries during the 1st quarter worth approximately $33,000. Blue Trust Inc. increased its holdings in GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after acquiring an additional 745 shares during the period. SBI Securities Co. Ltd. bought a new stake in GlobalFoundries during the 4th quarter worth approximately $52,000. Finally, Summit Securities Group LLC boosted its stake in GlobalFoundries by 142.2% during the first quarter. Summit Securities Group LLC now owns 1,298 shares of the company's stock valued at $48,000 after buying an additional 762 shares during the period.

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.