GLOBALFOUNDRIES (NASDAQ:GFS) Reaches New 12-Month Low at $45.33

GLOBALFOUNDRIES Inc. (NASDAQ:GFS)’s share price reached a new 52-week low on Friday . The company traded as low as $45.33 and last traded at $45.91, with a volume of 591437 shares. The stock had previously closed at $48.03.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GFS shares. Bank of America cut their price objective on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of GLOBALFOUNDRIES in a research report on Tuesday, July 16th. Susquehanna lifted their target price on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Evercore ISI started coverage on GLOBALFOUNDRIES in a report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on GLOBALFOUNDRIES from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, GLOBALFOUNDRIES presently has a consensus rating of “Hold” and an average target price of $59.00.

GLOBALFOUNDRIES Stock Performance

The company has a quick ratio of 1.59, a current ratio of 2.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $25.09 billion, a PE ratio of 29.65, a P/E/G ratio of 4.80 and a beta of 1.56. The business’s fifty day moving average is $51.27 and its 200-day moving average is $52.19.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. As a group, research analysts predict that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in GLOBALFOUNDRIES by 11.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,840 shares of the company’s stock valued at $475,000 after buying an additional 780 shares in the last quarter. Blue Trust Inc. grew its stake in GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after buying an additional 363 shares during the last quarter. International Assets Investment Management LLC raised its stake in GLOBALFOUNDRIES by 5,093.1% in the fourth quarter. International Assets Investment Management LLC now owns 531,462 shares of the company’s stock valued at $32,207,000 after buying an additional 521,228 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of GLOBALFOUNDRIES by 17.0% during the fourth quarter. Venture Visionary Partners LLC now owns 31,008 shares of the company’s stock valued at $1,879,000 after acquiring an additional 4,515 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of GLOBALFOUNDRIES by 16.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 7,582 shares of the company’s stock valued at $463,000 after purchasing an additional 1,058 shares during 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.