GLOBALFOUNDRIES (NASDAQ:GFS) Sets New 1-Year Low at $39.72

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) reached a new 52-week low on Tuesday . The company traded as low as $39.72 and last traded at $39.72, with a volume of 30554 shares changing hands. The stock had previously closed at $40.41.

Analyst Ratings Changes

GFS has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. TD Cowen decreased their price objective on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of GLOBALFOUNDRIES in a report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Seven 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.54.

GLOBALFOUNDRIES Stock Performance

The firm has a fifty day simple moving average of $48.16 and a 200-day simple moving average of $49.91. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 6.48 and a beta of 1.54.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.10. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. Analysts forecast that GLOBALFOUNDRIES Inc. will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GFS. Massmutual Trust Co. FSB ADV bought a new stake in shares of GLOBALFOUNDRIES during the 2nd quarter valued at $59,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GLOBALFOUNDRIES during the 2nd quarter valued at $65,000. CWM LLC raised its position in shares of GLOBALFOUNDRIES by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after acquiring an additional 373 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of GLOBALFOUNDRIES by 47.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after acquiring an additional 786 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of GLOBALFOUNDRIES by 128.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock valued at $129,000 after acquiring an additional 1,391 shares during the last quarter.

GLOBALFOUNDRIES Company Profile

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.