GlobalFoundries (NASDAQ:GFS) Given New $45.00 Price Target at Evercore ISI

GlobalFoundries (NASDAQ:GFS) had its price target lifted by Evercore ISI from $43.00 to $45.00 in a report released on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Wedbush raised their price objective on GlobalFoundries from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley decreased their target price on GlobalFoundries from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Arete Research set a $37.00 price target on GlobalFoundries in a report on Wednesday, August 27th. BNP Paribas Exane began coverage on shares of GlobalFoundries in a research report on Friday, October 24th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 price objective on shares of GlobalFoundries in a report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.21.

GlobalFoundries Stock Performance

Shares of GFS stock traded up $0.33 on Thursday, reaching $33.05. The stock had a trading volume of 2,999,582 shares, compared to its average volume of 3,238,098. GlobalFoundries has a 12 month low of $29.77 and a 12 month high of $47.69. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of -367.18, a P/E/G ratio of 1.29 and a beta of 1.49. The firm’s 50-day moving average is $34.29 and its two-hundred day moving average is $36.05. The company has a quick ratio of 1.92, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

Institutional Trading of GlobalFoundries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Profund Advisors LLC boosted its holdings in GlobalFoundries by 0.7% in the 3rd quarter. Profund Advisors LLC now owns 45,349 shares of the company’s stock valued at $1,625,000 after purchasing an additional 299 shares during the period. SBI Securities Co. Ltd. raised its position in shares of GlobalFoundries by 26.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company’s stock valued at $57,000 after buying an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of GlobalFoundries by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,744 shares of the company’s stock valued at $372,000 after buying an additional 324 shares during the period. Voya Investment Management LLC boosted its stake in shares of GlobalFoundries by 2.9% in the first quarter. Voya Investment Management LLC now owns 12,288 shares of the company’s stock valued at $454,000 after buying an additional 346 shares during the period. Finally, California State Teachers Retirement System grew its position in GlobalFoundries by 5.7% during the second quarter. California State Teachers Retirement System now owns 6,480 shares of the company’s stock worth $248,000 after buying an additional 347 shares in the last quarter.

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.