GlobalFoundries (NASDAQ:GFS) Price Target Raised to $42.00

GlobalFoundries (NASDAQ:GFS) had its price objective boosted by stock analysts at Morgan Stanley from $40.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 4.74% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Susquehanna dropped their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Needham & Company LLC upgraded 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. Finally, Citigroup dropped their price objective on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, GlobalFoundries has a consensus rating of “Hold” and a consensus price target of $50.13.

GlobalFoundries Stock Up 6.3 %

Shares of GFS opened at $40.10 on Wednesday. The business’s 50 day simple moving average is $42.48 and its 200-day simple moving average is $42.40. GlobalFoundries has a one year low of $35.85 and a one year high of $61.98. The company has a market capitalization of $22.13 billion, a P/E ratio of 29.93, a PEG ratio of 8.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts predict that GlobalFoundries will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

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