GlobalFoundries (NASDAQ:GFS) Price Target Raised to $42.00

GlobalFoundries (NASDAQ:GFS) had its price objective boosted by Wedbush from $40.00 to $42.00 in a report published on Thursday morning, Marketbeat reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GlobalFoundries in a report on Wednesday, October 8th. Bank of America cut GlobalFoundries from a “neutral” rating to an “underperform” rating and set a $35.00 target price on the stock. in a research report on Monday, October 13th. UBS Group cut their target price on GlobalFoundries from $43.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley decreased their price target on GlobalFoundries from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Finally, BNP Paribas Exane assumed coverage on shares of GlobalFoundries in a research note on Friday, October 24th. They set an “outperform” rating and a $45.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.21.

GlobalFoundries Trading Up 1.0%

Shares of NASDAQ:GFS opened at $33.05 on Thursday. The company has a quick ratio of 1.92, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $34.29 and its 200 day moving average price is $36.06. The company has a market cap of $18.27 billion, a PE ratio of -367.18, a P/E/G ratio of 1.30 and a beta of 1.49. GlobalFoundries has a fifty-two week low of $29.77 and a fifty-two week high of $47.69.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Profund Advisors LLC raised its holdings in 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 buying an additional 299 shares during the period. SBI Securities Co. Ltd. increased its position in shares of GlobalFoundries by 26.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company’s stock worth $57,000 after acquiring an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 acquiring an additional 324 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of 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 during the period. Finally, California State Teachers Retirement System lifted its position in shares of GlobalFoundries by 5.7% in the 2nd 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 in 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.