Bank of Montreal Can lowered its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 28.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,134 shares of the company's stock after selling 67,902 shares during the quarter. Bank of Montreal Can's holdings in GlobalFoundries were worth $6,967,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in GlobalFoundries by 2.0% in the first quarter. Vanguard Group Inc. now owns 252,416 shares of the company's stock worth $13,153,000 after buying an additional 4,845 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of GlobalFoundries by 15.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,395 shares of the company's stock valued at $907,000 after purchasing an additional 2,363 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of GlobalFoundries by 13.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 8,639 shares of the company's stock valued at $445,000 after buying an additional 1,057 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in GlobalFoundries during the 2nd quarter valued at about $59,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in GlobalFoundries in the 2nd quarter worth approximately $65,000.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $60.00 target price (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. UBS Group initiated coverage on GlobalFoundries in a research report on Wednesday, November 20th. They issued a "neutral" rating and a $47.00 price objective on the stock. Morgan Stanley downgraded GlobalFoundries from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $53.00 to $43.00 in a report on Monday, October 28th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $40.00 target price on shares of GlobalFoundries in a research note on Wednesday, November 6th. Finally, Citigroup reduced their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $50.21.
Read Our Latest Stock Report on GFS
GlobalFoundries Price Performance
Shares of NASDAQ:GFS traded down $0.36 during trading on Tuesday, hitting $44.76. 236,089 shares of the company's stock were exchanged, compared to its average volume of 1,622,224. The business's 50-day simple moving average is $40.97 and its 200 day simple moving average is $45.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $62.61. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 10.56 and a beta of 1.59.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business's revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, equities analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current year.
About GlobalFoundries
(
Free Report)
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.
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