GlobalFoundries (NASDAQ:GFS) Sees Strong Trading Volume - Here's Why

Shares of GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) saw an uptick in trading volume on Tuesday . 1,454,135 shares were traded during trading, a decline of 18% from the previous session's volume of 1,770,172 shares.The stock last traded at $39.94 and had previously closed at $37.74.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GFS. UBS Group reduced their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday. Cantor Fitzgerald restated a "neutral" rating and set a $40.00 price objective on shares of GlobalFoundries in a research note on Wednesday, November 6th. Robert W. Baird reduced their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $50.00.

GlobalFoundries Stock Performance

The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The company has a market cap of $23.83 billion, a PE ratio of 32.23, a P/E/G ratio of 8.23 and a beta of 1.56. The business's fifty day moving average is $42.37 and its 200-day moving average is $42.33.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. As a group, research analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On GlobalFoundries

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its position in shares of GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after buying an additional 411 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of GlobalFoundries during the third quarter valued at approximately $34,000. Blue Trust Inc. raised its position in shares of GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after buying an additional 745 shares during the last quarter. US Bancorp DE raised its position in shares of GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company's stock valued at $49,000 after buying an additional 530 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in GlobalFoundries in the fourth quarter worth $52,000.

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.