GlobalFoundries (NASDAQ:GFS) Given New $48.00 Price Target at Susquehanna

GlobalFoundries (NASDAQ:GFS) had its price target trimmed by Susquehanna from $50.00 to $48.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

GFS has been the subject of a number of other research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $40.00 price objective on shares of GlobalFoundries in a research note on Wednesday. Evercore ISI dropped their price target on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research note on Wednesday. Citigroup dropped their price target on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Robert W. Baird dropped their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.46.

GlobalFoundries Price Performance

NASDAQ GFS traded down $0.81 on Wednesday, reaching $45.98. 200,322 shares of the company’s stock traded hands, compared to its average volume of 1,601,949. GlobalFoundries has a 12 month low of $35.85 and a 12 month high of $62.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. The stock has a 50-day simple moving average of $40.35 and a 200 day simple moving average of $46.54. The stock has a market cap of $25.37 billion, a PE ratio of 31.83, a P/E/G ratio of 5.82 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. As a group, research analysts predict that GlobalFoundries will post 1.09 earnings per share for the current year.

Hedge Funds Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of GlobalFoundries by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock valued at $357,000 after acquiring an additional 340 shares in the last quarter. CWM LLC boosted its position in GlobalFoundries by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after purchasing an additional 373 shares during the last quarter. Pacer Advisors Inc. boosted its position in GlobalFoundries by 1.7% in the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after purchasing an additional 444 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in GlobalFoundries by 1.3% in the second quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock worth $1,758,000 after purchasing an additional 450 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in GlobalFoundries by 1.1% in the second quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock worth $2,307,000 after purchasing an additional 515 shares during the last quarter.

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.