UBS Group Issues Pessimistic Forecast for GlobalFoundries (NASDAQ:GFS) Stock Price

GlobalFoundries (NASDAQ:GFS) had its target price dropped by UBS Group from $47.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 5.09% from the company’s previous close.

Several other equities research analysts also recently weighed in on GFS. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday. Morgan Stanley increased their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday. Evercore ISI dropped their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Susquehanna dropped their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research 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. According to data from MarketBeat.com, GlobalFoundries presently has a consensus rating of “Hold” and a consensus price target of $50.00.

GlobalFoundries Price Performance

Shares of GFS opened at $42.82 on Wednesday. GlobalFoundries has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The firm’s 50 day moving average price is $42.37 and its 200 day moving average price is $42.33. The company has a market cap of $23.63 billion, a P/E ratio of 31.96, a PEG ratio of 8.23 and a beta of 1.56. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last announced its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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%. On average, research analysts forecast that GlobalFoundries will post 1.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GFS. FMR LLC boosted its stake in GlobalFoundries by 7.5% during the 4th quarter. FMR LLC now owns 53,096,556 shares of the company’s stock worth $2,278,373,000 after purchasing an additional 3,721,153 shares during the period. Invesco Ltd. boosted its stake in GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock worth $100,058,000 after purchasing an additional 221,731 shares during the period. State Street Corp boosted its stake in GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after purchasing an additional 98,084 shares during the period. Geode Capital Management LLC boosted its stake in GlobalFoundries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company’s stock worth $39,176,000 after purchasing an additional 16,921 shares during the period. Finally, Citigroup Inc. boosted its stake in GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after purchasing an additional 86,740 shares during the period.

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.