Charles Schwab Investment Management Inc. grew its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 16.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,492 shares of the company's stock after acquiring an additional 29,785 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in GlobalFoundries were worth $8,633,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. Marshall Wace LLP increased its holdings in shares of GlobalFoundries by 108.6% during the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company's stock worth $126,242,000 after buying an additional 1,299,687 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in GlobalFoundries by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company's stock worth $33,063,000 after purchasing an additional 77,581 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of GlobalFoundries by 267.7% in the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company's stock valued at $17,901,000 after buying an additional 257,749 shares during the period. Ghisallo Capital Management LLC increased its stake in shares of GlobalFoundries by 200.0% in the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company's stock valued at $15,168,000 after buying an additional 200,000 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of GlobalFoundries by 2.0% in the first quarter. Vanguard Group Inc. now owns 252,416 shares of the company's stock valued at $13,153,000 after buying an additional 4,845 shares during the period.
Wall Street Analyst Weigh In
GFS has been the subject of a number of recent research reports. Wedbush restated an "outperform" rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Citigroup decreased their price target on GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Robert W. Baird decreased their target price on shares of GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Evercore ISI decreased their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Finally, Morgan Stanley cut shares of GlobalFoundries from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $50.21.
Get Our Latest Research Report on GlobalFoundries
GlobalFoundries Stock Down 0.8 %
GlobalFoundries stock traded down $0.35 during midday trading on Wednesday, hitting $43.85. 1,349,853 shares of the stock were exchanged, compared to its average volume of 1,627,829. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $62.61. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 10.96 and a beta of 1.59. The business's 50-day moving average price is $41.55 and its 200-day moving average price is $45.25. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, research analysts expect that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal 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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