Global X Japan Co. Ltd. lessened its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 15.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,817 shares of the company's stock after selling 8,009 shares during the quarter. Global X Japan Co. Ltd.'s holdings in GlobalFoundries were worth $1,923,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of GFS. Allspring Global Investments Holdings LLC purchased a new stake in shares of GlobalFoundries in the 3rd quarter worth $34,000. Blue Trust Inc. raised its stake in shares of GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after buying an additional 745 shares during the last quarter. US Bancorp DE lifted its holdings in GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company's stock valued at $49,000 after acquiring an additional 530 shares during the period. AM Squared Ltd purchased a new position in GlobalFoundries during the third quarter worth approximately $60,000. Finally, Advisors Asset Management Inc. lifted its position in shares of GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company's stock valued at $64,000 after buying an additional 463 shares in the last quarter.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on GFS shares. UBS Group began coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They set a "neutral" rating and a $47.00 target price for the company. Citigroup lowered their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Evercore ISI cut their price objective on GlobalFoundries from $71.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Susquehanna decreased their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Finally, Robert W. Baird cut 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. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $50.21.
View Our Latest Analysis on GlobalFoundries
GlobalFoundries Price Performance
NASDAQ:GFS traded up $2.30 during trading hours on Tuesday, reaching $40.04. 4,737,917 shares of the company traded hands, compared to its average volume of 1,900,011. 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 stock has a market cap of $22.09 billion, a P/E ratio of 29.88, a P/E/G ratio of 8.23 and a beta of 1.56. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $61.98. The firm's 50-day moving average is $42.63 and its 200-day moving average is $42.49.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. Equities research analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share 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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