GlobalFoundries (NASDAQ:GFS) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of GlobalFoundries (NASDAQ:GFS - Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

Other equities analysts have also issued research reports about the company. 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. UBS Group lowered their target price on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Argus began coverage on GlobalFoundries in a research note on Tuesday. They set a "buy" rating and a $52.00 target price on the stock. Citigroup lowered their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

GlobalFoundries Stock Performance

NASDAQ:GFS traded down $0.18 on Friday, hitting $39.38. The company's stock had a trading volume of 1,428,038 shares, compared to its average volume of 1,830,744. The company has a current ratio of 2.51, a quick ratio of 1.77 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $37.55 and a two-hundred day moving average of $38.67. The firm has a market capitalization of $21.77 billion, a P/E ratio of -115.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.50. GlobalFoundries has a one year low of $29.77 and a one year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its earnings results 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. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a positive return on equity of 6.28% and a negative net margin of 2.77%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. Research analysts predict that GlobalFoundries will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On GlobalFoundries

A number of large investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its holdings in shares of GlobalFoundries by 2.9% in the 1st quarter. Voya Investment Management LLC now owns 12,288 shares of the company's stock valued at $454,000 after purchasing an additional 346 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of GlobalFoundries by 1.5% in the 1st quarter. Rhumbline Advisers now owns 90,226 shares of the company's stock valued at $3,330,000 after purchasing an additional 1,311 shares in the last quarter. Strs Ohio acquired a new stake in shares of GlobalFoundries in the 1st quarter valued at $1,164,000. Bayforest Capital Ltd acquired a new stake in shares of GlobalFoundries in the 1st quarter valued at $180,000. Finally, Woodline Partners LP acquired a new stake in shares of GlobalFoundries in the 1st quarter valued at $33,504,000.

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.