FMR LLC grew its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,375,403 shares of the company's stock after purchasing an additional 1,160,403 shares during the period. FMR LLC owned approximately 8.95% of GlobalFoundries worth $1,987,360,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in GFS. Truvestments Capital LLC acquired a new stake in GlobalFoundries in the third quarter valued at approximately $66,000. Harvest Fund Management Co. Ltd boosted its stake in GlobalFoundries by 52.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 25,407 shares of the company's stock worth $1,022,000 after purchasing an additional 8,717 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of GlobalFoundries during the third quarter worth about $500,000. Daiwa Securities Group Inc. grew its stake in shares of GlobalFoundries by 11.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 35,292 shares of the company's stock valued at $1,421,000 after purchasing an additional 3,744 shares during the last quarter. Finally, Citigroup Inc. increased its stake in GlobalFoundries by 16.0% in the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company's stock valued at $25,287,000 after buying an additional 86,740 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on GFS shares. Cantor Fitzgerald restated a "neutral" rating and issued a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on GlobalFoundries from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Robert W. Baird decreased their price target on shares of GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Susquehanna decreased their target price on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, GlobalFoundries presently has an average rating of "Hold" and an average price target of $50.21.
Read Our Latest Research Report on GFS
GlobalFoundries Stock Down 2.9 %
Shares of GFS traded down $1.26 during midday trading on Wednesday, hitting $42.85. The stock had a trading volume of 1,921,839 shares, compared to its average volume of 1,632,439. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $62.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. The company has a 50 day simple moving average of $40.67 and a two-hundred day simple moving average of $45.91. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 10.98 and a beta of 1.53.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results 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. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The business's revenue was down 6.1% compared to the same quarter last year. On average, analysts anticipate 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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