Dynamic Technology Lab Private Ltd bought a new stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,431 shares of the company's stock, valued at approximately $500,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries in the third quarter valued at $34,000. Massmutual Trust Co. FSB ADV purchased a new stake in GlobalFoundries during the 2nd quarter valued at approximately $59,000. US Bancorp DE lifted its position in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company's stock worth $49,000 after acquiring an additional 530 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GlobalFoundries in the 2nd quarter valued at approximately $65,000. Finally, CWM LLC grew its stake in shares of GlobalFoundries by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company's stock valued at $68,000 after purchasing an additional 373 shares during the last quarter.
GlobalFoundries Trading Up 0.9 %
Shares of NASDAQ:GFS traded up $0.40 during midday trading on Friday, reaching $43.25. The company's stock had a trading volume of 868,291 shares, compared to its average volume of 1,629,132. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $40.86 and a 200 day moving average price of $45.80. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 10.46 and a beta of 1.53. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $62.61.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its 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. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. GlobalFoundries's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. Research analysts forecast that GlobalFoundries Inc. will post 1.22 EPS for the current year.
Analyst Ratings Changes
Several brokerages have recently weighed in on GFS. UBS Group initiated coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They issued a "neutral" rating and a $47.00 target price on the stock. Robert W. Baird dropped their target price on GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Wedbush reissued an "outperform" rating and issued a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Morgan Stanley lowered GlobalFoundries from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on GlobalFoundries from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.21.
View Our Latest Research Report on GFS
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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