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

GlobalFoundries (NASDAQ:GFS) had its price target decreased by UBS Group from $47.00 to $45.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on GFS. Robert W. Baird dropped their price target on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup dropped their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday. Cantor Fitzgerald restated a “neutral” rating and set a $40.00 price objective on shares of GlobalFoundries in a research note on Wednesday, November 6th. Finally, Evercore ISI dropped their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.00.

GlobalFoundries Price Performance

GFS stock opened at $43.55 on Wednesday. The firm has a market cap of $24.03 billion, a P/E ratio of 32.50, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. The stock has a 50-day simple moving average of $42.37 and a 200-day simple moving average of $42.33.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data 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 net margin of 10.95% and a return on equity of 6.87%. On average, equities analysts predict that GlobalFoundries will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of GlobalFoundries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its position in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of GlobalFoundries during the third quarter valued at $34,000. Blue Trust Inc. grew its position in shares of GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares during the last quarter. US Bancorp DE grew its position 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 acquiring an additional 530 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of GlobalFoundries in the 4th quarter worth about $52,000.

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.