GlobalFoundries Inc. (NASDAQ:GFS) Short Interest Update

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 14,720,000 shares, a growth of 11.1% from the November 15th total of 13,250,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is presently 8.7 days. Currently, 14.0% of the company's stock are sold short.

Analyst Upgrades and Downgrades

GFS has been the subject of a number of analyst reports. Susquehanna decreased their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating for the company 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 target price for the company from $53.00 to $43.00 in a research report on Monday, October 28th. Needham & Company LLC reissued a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Citigroup decreased 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, Cantor Fitzgerald reissued a "neutral" rating and set a $40.00 target price on shares of GlobalFoundries in a research 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, GlobalFoundries has an average rating of "Hold" and a consensus price target of $50.21.

Hedge Funds Weigh In On GlobalFoundries

Hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its position in GlobalFoundries by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company's stock worth $357,000 after purchasing an additional 340 shares during the last quarter. CWM LLC increased its position in GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company's stock worth $68,000 after purchasing an additional 373 shares during the last quarter. Pacer Advisors Inc. increased its position in GlobalFoundries by 1.7% during the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company's stock worth $1,333,000 after purchasing an additional 444 shares during the last quarter. Royal London Asset Management Ltd. increased its position in GlobalFoundries by 1.3% during the second quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company's stock worth $1,758,000 after purchasing an additional 450 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in GlobalFoundries by 41.0% during the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company's stock worth $64,000 after purchasing an additional 463 shares during the last quarter.

GlobalFoundries Stock Performance

GFS stock traded down $0.10 during midday trading on Friday, hitting $43.88. 1,031,245 shares of the stock traded hands, compared to its average volume of 1,622,686. The firm has a market cap of $24.21 billion, a P/E ratio of 32.75, a PEG ratio of 10.71 and a beta of 1.59. 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's fifty day simple moving average is $41.81 and its 200-day simple moving average is $45.13. GlobalFoundries has a 1-year low of $35.85 and a 1-year high of $62.61.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company's revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, analysts expect that GlobalFoundries will post 1.22 earnings per share 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.