GLOBALFOUNDRIES (NASDAQ:GFS) Sets New 12-Month Low at $45.81

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) shares reached a new 52-week low during trading on Monday . The company traded as low as $45.81 and last traded at $45.91, with a volume of 205676 shares trading hands. The stock had previously closed at $46.26.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GFS shares. Susquehanna restated a “neutral” rating and issued a $48.00 price objective (down previously from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Evercore ISI began coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 target price for the company. JPMorgan Chase & Co. lowered their target price on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Bank of America lowered their target price on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Finally, Robert W. Baird lowered their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.08.

GLOBALFOUNDRIES Stock Performance

The company has a market capitalization of $25.39 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.91 and a beta of 1.61. The stock’s 50 day moving average price is $51.76 and its 200 day moving average price is $54.39. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business posted $1.37 EPS. GLOBALFOUNDRIES’s revenue was down 11.8% on a year-over-year basis. Analysts expect that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current year.

Institutional Investors Weigh In On GLOBALFOUNDRIES

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in GLOBALFOUNDRIES by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after acquiring an additional 187 shares during the period. PNC Financial Services Group Inc. raised its holdings in GLOBALFOUNDRIES by 442.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock valued at $52,000 after acquiring an additional 730 shares during the period. Advisors Preferred LLC bought a new position in GLOBALFOUNDRIES in the 3rd quarter valued at about $58,000. Blue Trust Inc. raised its holdings in GLOBALFOUNDRIES by 31.6% in the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after acquiring an additional 363 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in GLOBALFOUNDRIES by 230.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock valued at $119,000 after acquiring an additional 1,423 shares during the period.

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.