Brokerages Set GlobalFoundries Inc. (NASDAQ:GFS) Price Target at $48.85

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $48.23.

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Citigroup decreased their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Wednesday, February 12th. Finally, UBS Group lowered their price objective on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday.

GlobalFoundries Trading Up 1.2 %

NASDAQ:GFS traded up $0.42 on Friday, hitting $35.07. 1,335,370 shares of the stock were exchanged, compared to its average volume of 1,861,316. GlobalFoundries has a fifty-two week low of $29.77 and a fifty-two week high of $61.98. The stock has a fifty day moving average of $36.27 and a 200-day moving average of $40.12. The stock has a market cap of $19.39 billion, a PE ratio of -73.06, a PEG ratio of 1.42 and a beta of 1.54. 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 (NASDAQ:GFS - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, equities analysts expect that GlobalFoundries will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of GlobalFoundries by 439.3% during the third quarter. Tidal Investments LLC now owns 32,318 shares of the company's stock valued at $1,301,000 after buying an additional 26,325 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its position in GlobalFoundries by 14.5% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company's stock valued at $406,000 after acquiring an additional 1,200 shares during the period. Polianta Ltd bought a new stake in GlobalFoundries during the 4th quarter valued at $1,317,000. SG Americas Securities LLC acquired a new position in GlobalFoundries during the 4th quarter worth $1,748,000. Finally, Blue Trust Inc. grew its stake in shares of GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after purchasing an additional 745 shares in the last quarter.

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.