GlobalFoundries (NASDAQ:GFS) Sees Unusually-High Trading Volume – What’s Next?

GlobalFoundries Inc. (NASDAQ:GFS) saw unusually-high trading volume on Tuesday . Approximately 1,454,135 shares traded hands during trading, a decline of 18% from the previous session’s volume of 1,770,172 shares.The stock last traded at $39.94 and had previously closed at $37.74.

Analysts Set New Price Targets

GFS has been the subject of a number of recent research reports. Susquehanna decreased their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley cut GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $53.00 to $43.00 in a research report on Monday, October 28th. UBS Group assumed coverage on GlobalFoundries in a research report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price objective for the company. Wedbush restated an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.21.

GlobalFoundries Price Performance

The stock has a market capitalization of $22.09 billion, a PE ratio of 29.90, a P/E/G ratio of 8.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The company’s fifty day simple moving average is $42.63 and its two-hundred day simple moving average is $42.49.

GlobalFoundries (NASDAQ:GFS) last issued 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 return on equity of 6.87% and a net margin of 10.95%. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after acquiring an additional 411 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries in the third quarter valued at $34,000. Blue Trust Inc. grew its position in GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after acquiring an additional 745 shares during the period. US Bancorp DE increased its stake in GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after acquiring an additional 530 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries in the 4th quarter worth about $52,000.

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.