GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $37.63 and last traded at $37.76, with a volume of 42490 shares changing hands. The stock had previously closed at $38.12.
Wall Street Analysts Forecast Growth
GFS has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of GlobalFoundries from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald decreased their price target on shares of GlobalFoundries from $55.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, October 8th. Evercore ISI decreased their target price on GlobalFoundries from $77.00 to $71.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $54.85.
Read Our Latest Stock Report on GFS
GlobalFoundries Stock Down 4.2 %
The firm's 50-day moving average price is $40.96 and its two-hundred day moving average price is $46.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22. The firm has a market cap of $20.14 billion, a PE ratio of 25.93, a P/E/G ratio of 6.35 and a beta of 1.52.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.10. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. GlobalFoundries's revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities research analysts expect that GlobalFoundries Inc. will post 1.09 EPS for the current fiscal year.
Institutional Trading of GlobalFoundries
A number of large investors have recently bought and sold shares of the business. Ghisallo Capital Management LLC lifted its position in GlobalFoundries by 200.0% during the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company's stock worth $15,168,000 after acquiring an additional 200,000 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in GlobalFoundries by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company's stock valued at $59,018,000 after buying an additional 68,626 shares during the last quarter. Lazard Asset Management LLC increased its stake in GlobalFoundries by 47.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company's stock valued at $127,000 after buying an additional 786 shares during the period. Global X Japan Co. Ltd. raised its position in GlobalFoundries by 52.0% during the 2nd quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company's stock worth $3,218,000 after buying an additional 21,765 shares during the last quarter. Finally, Tidal Investments LLC raised its position in GlobalFoundries by 343.7% during the 1st quarter. Tidal Investments LLC now owns 94,320 shares of the company's stock worth $4,915,000 after buying an additional 73,060 shares during the last quarter.
About GlobalFoundries
(
Get Free Report)
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.
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