Analysts Set GlobalFoundries Inc. (NASDAQ:GFS) PT at $40.67

Shares of GlobalFoundries Inc. (NASDAQ:GFS) have been assigned an average rating of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $40.2143.

Several equities analysts have weighed in on GFS shares. Arete raised GlobalFoundries from a “sell” rating to a “neutral” rating and set a $37.00 target price on the stock in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating in a report on Monday, September 15th. Bank of America lowered shares of GlobalFoundries from a “neutral” rating to an “underperform” rating and set a $35.00 price objective on the stock. in a research note on Monday, October 13th. Citigroup cut their target price on shares of GlobalFoundries from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of GlobalFoundries in a research note on Wednesday, October 8th.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $32.72 on Tuesday. The company has a market capitalization of $18.09 billion, a price-to-earnings ratio of -363.52, a P/E/G ratio of 1.33 and a beta of 1.49. GlobalFoundries has a 1-year low of $29.77 and a 1-year high of $47.69. The company has a current ratio of 2.63, a quick ratio of 1.92 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $34.30 and its 200-day simple moving average is $36.06.

Institutional Inflows and Outflows

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