GlobalFoundries (NASDAQ:GFS) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of GlobalFoundries (NASDAQ:GFS - Free Report) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $40.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Argus started coverage on GlobalFoundries in a report on Tuesday, July 1st. They issued a "buy" rating and a $52.00 target price on the stock. UBS Group dropped 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. Morgan Stanley decreased their target price 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. Cantor Fitzgerald restated a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Finally, Citigroup raised their price objective on shares of GlobalFoundries from $35.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.46.

GlobalFoundries Price Performance

NASDAQ:GFS remained flat at $41.23 during trading hours on Thursday. The company's stock had a trading volume of 1,189,146 shares, compared to its average volume of 1,842,564. 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 stock has a fifty day simple moving average of $38.10 and a 200-day simple moving average of $38.52. GlobalFoundries has a one year low of $29.77 and a one year high of $61.98. The stock has a market cap of $22.80 billion, a P/E ratio of -121.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GFS. Signaturefd LLC increased its stake in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after purchasing an additional 411 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in GlobalFoundries in the 1st quarter worth approximately $33,000. Summit Securities Group LLC grew its stake in GlobalFoundries by 142.2% in the 1st quarter. Summit Securities Group LLC now owns 1,298 shares of the company's stock worth $48,000 after acquiring an additional 762 shares during the period. SBI Securities Co. Ltd. grew its stake in GlobalFoundries by 26.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company's stock worth $57,000 after acquiring an additional 320 shares during the period. Finally, Graney & King LLC purchased a new stake in GlobalFoundries in the 4th quarter worth approximately $68,000.

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.