GlobalFoundries (NASDAQ:GFS) Reaches New 12-Month Low - Here's What Happened

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $30.03 and last traded at $32.80, with a volume of 2126696 shares changing hands. The stock had previously closed at $31.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GFS shares. Wedbush restated an "outperform" rating and issued a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Needham & Company LLC upgraded 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. Citigroup cut their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, UBS Group decreased their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.29.

GlobalFoundries Trading Down 1.4 %

The firm has a market cap of $18.43 billion, a P/E ratio of -69.44, a P/E/G ratio of 1.42 and a beta of 1.54. The firm has a fifty day moving average of $38.39 and a 200-day moving average of $40.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Institutional Trading of GlobalFoundries

Several hedge funds have recently added to or reduced their stakes in GFS. FMR LLC increased its stake in shares of GlobalFoundries by 7.5% during the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock valued at $2,278,373,000 after acquiring an additional 3,721,153 shares during the period. First Trust Advisors LP lifted its holdings in shares of GlobalFoundries by 1.3% in the fourth quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock valued at $133,806,000 after buying an additional 40,527 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in GlobalFoundries by 5.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock valued at $106,124,000 after buying an additional 132,634 shares in the last quarter. Invesco Ltd. grew its holdings in GlobalFoundries by 10.5% during the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock worth $100,058,000 after acquiring an additional 221,731 shares during the period. Finally, State Street Corp lifted its holdings in GlobalFoundries by 8.3% in 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 during 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.