GlobalFoundries (NASDAQ:GFS) Stock Price Down 6.5% – What’s Next?

GlobalFoundries Inc. (NASDAQ:GFS)’s share price fell 6.5% during trading on Tuesday . The stock traded as low as $38.07 and last traded at $37.18. 296,605 shares were traded during trading, a decline of 82% from the average session volume of 1,662,223 shares. The stock had previously closed at $39.75.

Wall Street Analysts Forecast Growth

GFS has been the topic of several recent research reports. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group decreased their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

GlobalFoundries Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The company’s 50-day moving average price is $41.37 and its 200-day moving average price is $41.71. The company has a market cap of $20.68 billion, a P/E ratio of -78.05, a P/E/G ratio of 1.42 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GlobalFoundries

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock valued at $2,278,373,000 after purchasing an additional 3,721,153 shares during the last quarter. First Trust Advisors LP grew its position in GlobalFoundries by 1.3% in the fourth quarter. First Trust Advisors LP now owns 3,118,293 shares of the company’s stock valued at $133,806,000 after purchasing an additional 40,527 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in GlobalFoundries by 5.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company’s stock valued at $106,124,000 after buying an additional 132,634 shares during the last quarter. Invesco Ltd. lifted its position 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 buying an additional 221,731 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of 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 buying an additional 98,084 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.