GlobalFoundries (NASDAQ:GFS) Reaches New 12-Month Low – Here’s What Happened

GlobalFoundries Inc. (NASDAQ:GFS) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $35.77 and last traded at $35.97, with a volume of 101221 shares changing hands. The stock had previously closed at $36.89.

Analyst Ratings Changes

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

GlobalFoundries Stock Down 2.5 %

The stock has a market cap of $19.89 billion, a price-to-earnings ratio of -74.96, a PEG ratio of 1.42 and a beta of 1.57. The business’s 50 day moving average is $39.97 and its 200-day moving average is $41.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFS) last announced its 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%. On average, sell-side analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On GlobalFoundries

Several large investors have recently bought and sold shares of GFS. Signaturefd LLC boosted its stake in shares of GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 411 shares during the last quarter. Blue Trust Inc. lifted its holdings in GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after purchasing an additional 745 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in GlobalFoundries during the 4th quarter worth $52,000. Graney & King LLC purchased a new stake in shares of GlobalFoundries during the fourth quarter worth $68,000. Finally, Covestor Ltd raised its position in shares of GlobalFoundries by 309.8% in the fourth quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after buying an additional 1,270 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.