GlobalFoundries (NASDAQ:GFS) Shares Down 6.5% – What’s Next?

GlobalFoundries Inc. (NASDAQ:GFS)’s stock price was down 6.5% during mid-day trading on Tuesday . The company traded as low as $38.07 and last traded at $37.18. Approximately 296,605 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,662,223 shares. The stock had previously closed at $39.75.

Analyst Upgrades and Downgrades

GFS has been the topic of a number of recent research reports. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. UBS Group decreased their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Stock Performance

The firm has a 50-day moving average price of $41.14 and a two-hundred day moving average price of $41.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The firm has a market capitalization of $20.16 billion, a P/E ratio of -76.10, a P/E/G ratio of 1.42 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data 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%. On average, analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GFS. Treasurer of the State of North Carolina grew its position in shares of GlobalFoundries by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock worth $1,855,000 after buying an additional 280 shares in the last quarter. Signaturefd LLC lifted its stake in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the last quarter. Mariner LLC boosted its position in GlobalFoundries by 5.5% during the fourth quarter. Mariner LLC now owns 8,111 shares of the company’s stock valued at $348,000 after purchasing an additional 420 shares in the last quarter. American Century Companies Inc. boosted its position in GlobalFoundries by 1.7% during the fourth quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock valued at $1,113,000 after purchasing an additional 438 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 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.