GlobalFoundries (NASDAQ:GFS) Reaches New 52-Week Low – Should You Sell?

GlobalFoundries Inc. (NASDAQ:GFS)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $38.10 and last traded at $38.11, with a volume of 434974 shares changing hands. The stock had previously closed at $39.30.

Analysts Set New Price Targets

GFS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. TD Cowen decreased their target price on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of GlobalFoundries in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reduced their price objective on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.38.

GlobalFoundries Stock Up 3.4 %

The firm’s fifty day moving average is $41.44 and its 200 day moving average is $47.12. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. The stock has a market cap of $22.29 billion, a P/E ratio of 25.40, a P/E/G ratio of 6.45 and a beta of 1.52.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue was down 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that GlobalFoundries Inc. will post 1.09 EPS for the current year.

Institutional Trading of GlobalFoundries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Assets Advisory LLC acquired a new position in GlobalFoundries in the first quarter valued at about $594,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in GlobalFoundries by 17.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 83,162 shares of the company’s stock valued at $4,334,000 after buying an additional 12,487 shares in the last quarter. Norden Group LLC acquired a new position in GlobalFoundries in the first quarter valued at about $400,000. Principal Financial Group Inc. boosted its position in GlobalFoundries by 32.5% in the first quarter. Principal Financial Group Inc. now owns 6,530 shares of the company’s stock valued at $340,000 after buying an additional 1,603 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in GlobalFoundries by 7.1% in the first 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 in 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.