Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for GlobalFoundries (NASDAQ:GFS) Stock Price

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

Several other research firms also recently weighed in on GFS. Wedbush reiterated an “outperform” rating and set a $60.00 target price (down from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. TD Cowen cut their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Citigroup decreased their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Finally, Susquehanna decreased their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, GlobalFoundries has an average rating of “Hold” and a consensus target price of $50.46.

GlobalFoundries Stock Performance

Shares of NASDAQ GFS opened at $43.98 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.59. The company has a market cap of $24.27 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 7.56 and a beta of 1.53. The company has a 50-day simple moving average of $40.28 and a 200-day simple moving average of $46.51. GlobalFoundries has a 12 month low of $35.85 and a 12 month high of $62.61.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company earned $0.47 EPS. GlobalFoundries’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that GlobalFoundries will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of GlobalFoundries in the third quarter worth about $34,000. Massmutual Trust Co. FSB ADV acquired a new stake in GlobalFoundries in the second quarter valued at approximately $59,000. US Bancorp DE grew its position in GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after acquiring an additional 530 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GlobalFoundries during the second quarter valued at approximately $65,000. Finally, CWM LLC lifted its position in shares of GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after purchasing an additional 373 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.