GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $43.55 and last traded at $43.85, with a volume of 53908 shares changing hands. The stock had previously closed at $44.81.
GFS has been the subject of several analyst reports. Morgan Stanley raised shares of GLOBALFOUNDRIES from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $72.50 in a research note on Thursday, March 3rd. Citigroup lifted their target price on GLOBALFOUNDRIES from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 6th. Deutsche Bank Aktiengesellschaft dropped their price target on GLOBALFOUNDRIES from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. decreased their target price on GLOBALFOUNDRIES from $82.00 to $77.00 in a research report on Wednesday, May 11th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned 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 $80.00.
The company has a debt-to-equity ratio of 0.26, a current ratio of 1.70 and a quick ratio of 1.35. The stock has a 50 day moving average price of $53.38 and a 200 day moving average price of $57.54.
Large investors have recently added to or reduced their stakes in the business. IndexIQ Advisors LLC bought a new stake in GLOBALFOUNDRIES during the first quarter valued at about $26,000. Prospera Financial Services Inc purchased a new position in shares of GLOBALFOUNDRIES in the first quarter valued at about $28,000. Steward Partners Investment Advisory LLC purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter valued at about $30,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter valued at about $35,000. Finally, Arrow Financial Corp purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter valued at about $42,000. 12.09% of the stock is owned by institutional investors and hedge funds.
About GLOBALFOUNDRIES (NASDAQ:GFS)
GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies.
- Get a free copy of the StockNews.com research report on GLOBALFOUNDRIES (GFS)
- It’s A Comfortable Time To Buy Steelcase
- Worthington Posts Strong Results, But Earnings Fall On One-Off Adjustments
- A Tasty Entry Point Into Darden Restaurants International
- NXP Semiconductors: Strong Earnings & New Microcontrollers for Electric Vehicles
- Lithium Stocks Are Offering Unprecedented Opportunity To Investors
Receive News & Ratings for GLOBALFOUNDRIES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GLOBALFOUNDRIES and related companies with MarketBeat.com's FREE daily email newsletter.