GlobalFoundries (NASDAQ:GFS) Price Target Lowered to $45.00 at UBS Group

GlobalFoundries (NASDAQ:GFS) had its price target cut by UBS Group from $47.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 4.88% from the company’s previous close.

A number of other equities research analysts have also issued reports on GFS. Evercore ISI dropped their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup decreased their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday, November 6th. Susquehanna decreased their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, 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. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.00.

GlobalFoundries Stock Performance

NASDAQ GFS traded up $2.81 on Wednesday, hitting $42.91. 2,420,302 shares of the company’s stock traded hands, compared to its average volume of 1,999,390. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $42.48 and its two-hundred day moving average price is $42.40. GlobalFoundries has a 1-year low of $35.85 and a 1-year high of $61.98. The firm has a market capitalization of $23.67 billion, a PE ratio of 32.01, a P/E/G ratio of 8.23 and a beta of 1.56.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data 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 return on equity of 6.87% and a net margin of 10.95%. As a group, analysts expect that GlobalFoundries will post 1.22 EPS for the current year.

Hedge Funds Weigh In On GlobalFoundries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after acquiring an additional 411 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in GlobalFoundries in the third quarter valued at $34,000. Blue Trust Inc. lifted its holdings in GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after acquiring an additional 745 shares during the period. US Bancorp DE raised its stake in shares of GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after buying an additional 530 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of GlobalFoundries during the 4th quarter worth $52,000.

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.