Deutsche Bank Aktiengesellschaft Has Lowered Expectations for GlobalFoundries (NASDAQ:GFS) Stock Price

GlobalFoundries (NASDAQ:GFS) had its price target dropped by equities researchers at Deutsche Bank Aktiengesellschaft from $55.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 10.45% from the stock’s previous close.

GFS has been the topic of several other reports. Citigroup dropped their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday. Finally, Evercore ISI reduced their target price on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.46.

GlobalFoundries Stock Down 3.2 %

Shares of GFS opened at $45.27 on Wednesday. The firm has a fifty day moving average price of $40.34 and a 200-day moving average price of $46.53. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $24.98 billion, a P/E ratio of 33.78, a P/E/G ratio of 5.82 and a beta of 1.53. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $62.61.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of GlobalFoundries by 17.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 83,162 shares of the company’s stock valued at $4,334,000 after acquiring an additional 12,487 shares during the last quarter. Norden Group LLC acquired a new position in GlobalFoundries in the first quarter valued at approximately $400,000. Duality Advisers LP purchased a new position in GlobalFoundries in the first quarter worth approximately $1,401,000. Quantbot Technologies LP acquired a new stake in GlobalFoundries during the first quarter worth $6,347,000. Finally, SG Americas Securities LLC lifted its position in GlobalFoundries by 12.9% in the first quarter. SG Americas Securities LLC now owns 205,841 shares of the company’s stock valued at $10,726,000 after buying an additional 23,442 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.