Centiva Capital LP Buys Shares of 33,846 GlobalFoundries Inc. (NASDAQ:GFS)

Centiva Capital LP acquired a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 33,846 shares of the company's stock, valued at approximately $1,362,000.

A number of other hedge funds also recently made changes to their positions in GFS. Allspring Global Investments Holdings LLC purchased a new stake in GlobalFoundries in the 3rd quarter worth $34,000. Massmutual Trust Co. FSB ADV bought a new stake in shares of GlobalFoundries during the second quarter valued at approximately $59,000. US Bancorp DE lifted its holdings in shares of GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company's stock worth $49,000 after buying an additional 530 shares in the last quarter. CWM LLC grew its stake in GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company's stock valued at $68,000 after acquiring an additional 373 shares in the last quarter. Finally, AM Squared Ltd purchased a new stake in GlobalFoundries in the 3rd quarter worth $60,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GFS shares. UBS Group began coverage on GlobalFoundries in a report on Wednesday, November 20th. They issued a "neutral" rating and a $47.00 target price on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. Susquehanna cut their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, TD Cowen dropped their price objective 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. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $50.21.

GlobalFoundries Trading Down 0.2 %

Shares of NASDAQ GFS traded down $0.10 during mid-day trading on Thursday, reaching $44.28. The company had a trading volume of 2,521,535 shares, compared to its average volume of 1,629,473. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 10.90 and a beta of 1.59. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $62.61. The business's 50-day moving average is $41.19 and its 200-day moving average is $45.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company's quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

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.