GlobalFoundries (NASDAQ:GFS) Reaches New 1-Year Low – Should You Sell?

GlobalFoundries Inc. (NASDAQ:GFS) shares hit a new 52-week low on Wednesday . The stock traded as low as $38.10 and last traded at $38.11, with a volume of 434974 shares. The stock had previously closed at $39.30.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GFS. Evercore ISI decreased their target price on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald lowered their price objective on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a report on Wednesday, August 7th. Finally, Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of GlobalFoundries in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.38.

GlobalFoundries Stock Down 2.4 %

The firm has a 50-day moving average of $41.68 and a two-hundred day moving average of $47.24. The firm has a market cap of $21.17 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 6.45 and a beta of 1.52. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The business’s revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. X Square Capital LLC grew its holdings in shares of GlobalFoundries by 3.8% during the third quarter. X Square Capital LLC now owns 24,329 shares of the company’s stock worth $979,000 after buying an additional 894 shares in the last quarter. International Assets Investment Management LLC raised its stake in GlobalFoundries by 2,162.6% in the 3rd quarter. International Assets Investment Management LLC now owns 158,384 shares of the company’s stock valued at $63,750,000 after acquiring an additional 151,384 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of GlobalFoundries during the third quarter worth approximately $34,000. Renaissance Capital LLC increased its position in GlobalFoundries by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 106,047 shares of the company’s stock worth $4,268,000 after buying an additional 17,707 shares during the period. Finally, Creative Planning acquired a new stake in shares of GlobalFoundries in the third quarter valued at approximately $295,000.

GlobalFoundries Company Profile

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.