Citigroup Inc. Grows Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Citigroup Inc. raised its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 16.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628,259 shares of the company's stock after purchasing an additional 86,740 shares during the quarter. Citigroup Inc. owned 0.11% of GlobalFoundries worth $25,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP grew its stake in shares of GlobalFoundries by 108.6% during the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company's stock worth $126,242,000 after acquiring an additional 1,299,687 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of GlobalFoundries by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company's stock worth $33,063,000 after acquiring an additional 77,581 shares during the period. Renaissance Technologies LLC grew its stake in shares of GlobalFoundries by 267.7% during the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company's stock worth $17,901,000 after acquiring an additional 257,749 shares during the period. Ghisallo Capital Management LLC grew its stake in shares of GlobalFoundries by 200.0% during the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company's stock worth $15,168,000 after acquiring an additional 200,000 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of GlobalFoundries by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 252,416 shares of the company's stock worth $13,153,000 after acquiring an additional 4,845 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on GFS. Needham & Company LLC restated a "hold" rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Evercore ISI cut their target price on GlobalFoundries from $71.00 to $55.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price target on GlobalFoundries from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price target (down previously from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Finally, Susquehanna lowered their price target on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, GlobalFoundries currently has a consensus rating of "Hold" and a consensus target price of $50.21.

GlobalFoundries Trading Down 2.9 %

Shares of GFS stock traded down $1.26 during trading hours on Wednesday, reaching $42.85. The company's stock had a trading volume of 1,921,839 shares, compared to its average volume of 1,632,439. The stock has a market capitalization of $23.64 billion, a P/E ratio of 32.33, a P/E/G ratio of 10.98 and a beta of 1.53. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $62.61. The firm's fifty day simple moving average is $40.67 and its 200 day simple moving average is $45.91. 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 (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. Equities research analysts expect that GlobalFoundries Inc. will post 1.22 EPS for the current year.

About GlobalFoundries

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.