GLOBALFOUNDRIES (NASDAQ:GFS) Hits New 12-Month Low at $48.12

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $48.12 and last traded at $48.20, with a volume of 576757 shares. The stock had previously closed at $49.38.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GFS. Evercore ISI began coverage on shares of GLOBALFOUNDRIES in a research report on Tuesday. They set an “outperform” rating and a $71.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 target price (down previously from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. Bank of America cut their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday. Susquehanna reaffirmed a “neutral” rating and set a $48.00 price target (down previously from $65.00) on shares of GLOBALFOUNDRIES in a research note on Tuesday, March 5th. Finally, Citigroup downgraded shares of GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and cut their price target for the stock from $70.00 to $56.00 in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, GLOBALFOUNDRIES has a consensus rating of “Moderate Buy” and a consensus target price of $63.08.

GLOBALFOUNDRIES Price Performance

The stock has a market cap of $26.18 billion, a PE ratio of 25.98, a P/E/G ratio of 3.99 and a beta of 1.61. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $52.65 and its 200-day moving average is $54.82.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $1.37 EPS. As a group, sell-side analysts predict that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current year.

Institutional Trading of GLOBALFOUNDRIES

A number of hedge funds and other institutional investors have recently made changes to their positions in GFS. Advisors Asset Management Inc. bought a new stake in shares of GLOBALFOUNDRIES during the 3rd quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of GLOBALFOUNDRIES by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after purchasing an additional 187 shares in the last quarter. Natixis bought a new stake in shares of GLOBALFOUNDRIES in the 4th quarter worth approximately $38,000. KBC Group NV raised its holdings in shares of GLOBALFOUNDRIES by 210.9% in the 4th quarter. KBC Group NV now owns 802 shares of the company’s stock worth $49,000 after purchasing an additional 544 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of GLOBALFOUNDRIES by 442.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock worth $52,000 after purchasing an additional 730 shares in the last quarter.

About GLOBALFOUNDRIES

GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.