GLOBALFOUNDRIES (NASDAQ:GFS) Hits New 52-Week Low at $45.81

GLOBALFOUNDRIES Inc. (NASDAQ:GFS - Get Free Report) shares hit a new 52-week low on Monday . The company traded as low as $45.81 and last traded at $45.91, with a volume of 205676 shares. The stock had previously closed at $46.26.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GFS shares. Bank of America cut their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a "neutral" rating on the stock in a report on Wednesday, February 14th. Citigroup cut shares of GLOBALFOUNDRIES from a "buy" rating to a "neutral" rating and cut their price target for the company from $70.00 to $56.00 in a report on Wednesday, February 14th. Susquehanna reiterated a "neutral" rating and set a $48.00 price target (down previously from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Finally, Robert W. Baird cut their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.08.

GLOBALFOUNDRIES Stock Up 0.2 %

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 has a market capitalization of $25.40 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.91 and a beta of 1.61. The company's 50-day simple moving average is $52.12 and its two-hundred day simple moving average is $54.53.

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

Institutional Investors Weigh In On GLOBALFOUNDRIES

Several large investors have recently added to or reduced their stakes in GFS. Vontobel Holding Ltd. raised its holdings in shares of GLOBALFOUNDRIES by 21.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 7,788 shares of the company's stock valued at $453,000 after purchasing an additional 1,349 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of GLOBALFOUNDRIES by 26.0% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 6,743 shares of the company's stock worth $392,000 after acquiring an additional 1,392 shares in the last quarter. AE Wealth Management LLC bought a new position in shares of GLOBALFOUNDRIES during the 3rd quarter worth approximately $433,000. Ronald Blue Trust Inc. raised its stake in shares of GLOBALFOUNDRIES by 14,237.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,147 shares of the company's stock worth $74,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in shares of GLOBALFOUNDRIES by 39,741.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 4,781 shares of the company's stock worth $278,000 after acquiring an additional 4,769 shares in the last quarter.

About GLOBALFOUNDRIES

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.