UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 120,960 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 1,935.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,210 shares of the company's stock after buying an additional 120,960 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in GlobalFoundries were worth $5,120,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 valued at $13,153,000 after buying an additional 4,845 shares in the last quarter. CWM LLC lifted its position in shares of GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company's stock worth $68,000 after acquiring an additional 373 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of GlobalFoundries by 14.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 94,854 shares of the company's stock worth $4,796,000 after acquiring an additional 11,692 shares during the period. Sanibel Captiva Trust Company Inc. purchased a new position in shares of GlobalFoundries in the second quarter valued at $250,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of GlobalFoundries during the 2nd quarter valued at $1,934,000.

GlobalFoundries Trading Up 0.3 %

Shares of NASDAQ:GFS traded up $0.13 on Thursday, reaching $43.98. 977,882 shares of the company traded hands, compared to its average volume of 1,625,126. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $62.61. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The business's 50-day simple moving average is $41.63 and its 200 day simple moving average is $45.24. The stock has a market capitalization of $24.27 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 10.96 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna dropped their price objective on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. 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. Citigroup dropped their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $50.21.

GlobalFoundries 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.