GlobalFoundries (NASDAQ:GFS) Hits New 1-Year Low – Here’s Why

GlobalFoundries Inc. (NASDAQ:GFS)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $35.77 and last traded at $35.97, with a volume of 101221 shares trading hands. The stock had previously closed at $36.89.

Wall Street Analysts Forecast Growth

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

GlobalFoundries Trading Down 2.5 %

The company has a 50 day moving average of $39.97 and a two-hundred day moving average of $41.12. The stock has a market capitalization of $19.89 billion, a PE ratio of -74.96, a P/E/G ratio of 1.42 and a beta of 1.57. 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 issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Sell-side analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Institutional Investors Weigh In On GlobalFoundries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of GlobalFoundries by 7.5% in the 4th quarter. FMR LLC now owns 53,096,556 shares of the company’s stock valued at $2,278,373,000 after acquiring an additional 3,721,153 shares during the period. First Trust Advisors LP grew its stake in GlobalFoundries by 1.3% during the 4th 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 during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of GlobalFoundries by 5.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company’s stock valued at $106,124,000 after purchasing an additional 132,634 shares during the period. Invesco Ltd. raised its stake in shares of GlobalFoundries by 10.5% in the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company’s stock worth $100,058,000 after purchasing an additional 221,731 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of GlobalFoundries by 8.3% during the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after purchasing an additional 98,084 shares during the period.

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.