UBS Group Cuts GlobalFoundries (NASDAQ:GFS) Price Target to $37.00

GlobalFoundries (NASDAQ:GFS - Free Report) had its price target decreased by UBS Group from $45.00 to $37.00 in a report released on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

GFS has been the subject of several other reports. Morgan Stanley upped their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Citigroup dropped their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wedbush reissued an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.23.

GlobalFoundries Stock Up 3.0 %

GlobalFoundries stock traded up $1.04 during midday trading on Tuesday, hitting $36.22. The stock had a trading volume of 105,050 shares, compared to its average volume of 1,855,604. The business has a fifty day moving average price of $36.00 and a 200 day moving average price of $40.05. GlobalFoundries has a 12 month low of $29.77 and a 12 month high of $61.98. The stock has a market cap of $20.03 billion, a P/E ratio of -75.51, a P/E/G 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 issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Research analysts predict that GlobalFoundries will post 1.31 EPS for the current year.

Institutional Trading of GlobalFoundries

A number of large investors have recently added to or reduced their stakes in GFS. FMR LLC boosted its holdings in shares of GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after buying an additional 3,721,153 shares during the period. First Trust Advisors LP grew its stake in shares of GlobalFoundries by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock valued at $133,806,000 after buying an additional 40,527 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in GlobalFoundries by 5.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock worth $106,124,000 after buying an additional 132,634 shares during the last quarter. Invesco Ltd. raised its stake in shares of GlobalFoundries by 10.5% in the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock valued at $100,058,000 after acquiring an additional 221,731 shares in the last quarter. Finally, Analog Century Management LP bought a new stake in GlobalFoundries during the fourth quarter worth approximately $50,298,000.

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.