GLOBALFOUNDRIES (NASDAQ:GFS) Hits New 12-Month Low at $48.12

GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Get Free Report)'s share price hit a new 52-week low on Monday . The stock traded as low as $48.12 and last traded at $48.20, with a volume of 576757 shares. The stock had previously closed at $49.38.

Analysts Set New Price Targets

Several research firms have recently commented on GFS. JPMorgan Chase & Co. decreased their price target on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 14th. Citigroup lowered shares of GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and cut their target price for the stock from $70.00 to $56.00 in a report on Wednesday, February 14th. Robert W. Baird cut their price objective on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. Susquehanna reissued a "neutral" rating and set a $48.00 price target (down from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price target (down from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, GLOBALFOUNDRIES has an average rating of "Moderate Buy" and an average price target of $63.25.

GLOBALFOUNDRIES Price Performance

The stock has a market cap of $25.89 billion, a PE ratio of 25.68, a P/E/G ratio of 4.17 and a beta of 1.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.56. The firm's 50 day moving average price is $52.65 and its two-hundred day moving average price is $54.82.

GLOBALFOUNDRIES (NASDAQ:GFS - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $1.37 earnings per share. GLOBALFOUNDRIES's revenue for the quarter was down 11.8% on a year-over-year basis. On average, research analysts expect that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GFS. Mubadala Investment Co PJSC bought a new position in GLOBALFOUNDRIES during the 4th quarter valued at about $28,451,821,000. FMR LLC grew its holdings in GLOBALFOUNDRIES by 18.7% during the 3rd quarter. FMR LLC now owns 35,205,461 shares of the company's stock valued at $2,048,606,000 after buying an additional 5,544,907 shares in the last quarter. Norges Bank purchased a new stake in GLOBALFOUNDRIES during the 4th quarter valued at approximately $80,293,000. Capital Research Global Investors grew its holdings in GLOBALFOUNDRIES by 1,042.5% during the 1st quarter. Capital Research Global Investors now owns 1,316,303 shares of the company's stock valued at $82,164,000 after buying an additional 1,201,093 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter valued at $67,351,000.

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.