GlobalFoundries Inc (GFS) Is Now En Route to Higher Prices

GlobalFoundries Inc (NASDAQ: GFS) is -3.24% lower on its value in year-to-date trading and has touched a low of $35.85 and a high of $61.98 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GFS stock was last observed hovering at around $42.43 in the last trading session, with the day’s loss setting it -0.91%.

Currently trading at $41.52, the stock is -0.43% and -2.00% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.71 million and changing -2.14% at the moment leaves the stock -7.74% off its SMA200. GFS registered -22.23% loss for a year compared to 6-month loss of -9.86%..

The stock witnessed a -0.36% gain in the last 1 month and extending the period to 3 months gives it a -2.03%, and is -3.80% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.48% over the week and 4.63% over the month.

GlobalFoundries Inc (GFS) has around 12000 employees, a market worth around $23.06B and $6.75B in sales. Fwd P/E is 17.15. Profit margin for the company is -3.93%. Distance from 52-week low is 15.82% and -33.01% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.16%).

The EPS is expected to grow by 9.12% this year.

GlobalFoundries Inc (GFS) Top Institutional Holders

The shares outstanding are 555.50M, and float is at 105.12M with Short Float at 11.36%.

The top institutional shareholder in the company is MUBADALA INVESTMENT CO PJSC with over 469.5 million shares valued at $23.74 billion. The investor’s holdings represent 84.7477% of the GFS Shares outstanding. As of 2024-06-30, the second largest holder is FMR LLC with 48.22 million shares valued at $2.44 billion to account for 8.7031 of the shares outstanding. The other top investors are MATRIX CAPITAL MANAGEMENT COMPANY, LP which holds 16.91 million shares representing 3.0532% and valued at over $855.22 million, while BLACKROCK INC. holds 0.6988 of the shares totaling 3.88 million with a market value of $196.1 million.