GlobalFoundries (NASDAQ:GFS) Hits New 1-Year Low - Here's Why

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report)'s share price reached a new 52-week low on Monday . The company traded as low as $35.77 and last traded at $35.97, with a volume of 101221 shares traded. The stock had previously closed at $36.89.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GFS shares. Morgan Stanley lifted their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. UBS Group reduced their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Wedbush restated an "outperform" rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $49.64.

GlobalFoundries Stock Up 3.3 %

The company has a market capitalization of $20.56 billion, a price-to-earnings ratio of -77.46, a PEG ratio of 1.42 and a beta of 1.57. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm's 50 day simple moving average is $39.87 and its 200-day simple moving average is $41.09.

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GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. On average, sell-side analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On GlobalFoundries

A number of large investors have recently made changes to their positions in the stock. FMR LLC grew its position in GlobalFoundries by 7.5% during the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after buying an additional 3,721,153 shares during the period. First Trust Advisors LP increased its stake in GlobalFoundries by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock valued at $133,806,000 after purchasing an additional 40,527 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in GlobalFoundries by 5.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock worth $106,124,000 after purchasing an additional 132,634 shares during the last quarter. Invesco Ltd. increased its position in shares of GlobalFoundries by 10.5% in the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock valued at $100,058,000 after buying an additional 221,731 shares in the last quarter. Finally, State Street Corp increased its holdings in GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company's stock valued at $51,341,000 after acquiring an additional 98,084 shares in the last quarter.

About GlobalFoundries

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.