GlobalFoundries (NASDAQ:GFS) Price Target Lowered to $50.00 at Deutsche Bank Aktiengesellschaft

GlobalFoundries (NASDAQ:GFS) had its price target decreased by Deutsche Bank Aktiengesellschaft from $55.00 to $50.00 in a research report released on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on GFS. Evercore ISI reduced their price objective on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. TD Cowen decreased their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday. Morgan Stanley cut GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Finally, Susquehanna dropped their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and a consensus target price of $50.46.

GlobalFoundries Stock Up 1.5 %

Shares of GlobalFoundries stock opened at $47.48 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $62.61. The firm has a market capitalization of $26.20 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 5.82 and a beta of 1.53. The stock’s fifty day moving average is $40.35 and its 200-day moving average is $46.54.

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

Hedge Funds Weigh In On GlobalFoundries

Several large investors have recently bought and sold shares of GFS. Ghisallo Capital Management LLC grew its position in GlobalFoundries by 200.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after purchasing an additional 200,000 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of GlobalFoundries by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after buying an additional 786 shares during the period. Global X Japan Co. Ltd. grew its position in GlobalFoundries by 52.0% during the second quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company’s stock worth $3,218,000 after buying an additional 21,765 shares in the last quarter. Tidal Investments LLC increased its stake in GlobalFoundries by 343.7% during the first quarter. Tidal Investments LLC now owns 94,320 shares of the company’s stock valued at $4,915,000 after acquiring an additional 73,060 shares during the period. Finally, Renaissance Capital LLC raised its holdings in GlobalFoundries by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 106,047 shares of the company’s stock valued at $4,268,000 after acquiring an additional 17,707 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.