GlobalFoundries Inc. (NASDAQ:GFS) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP lifted its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 89.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,762 shares of the company's stock after acquiring an additional 34,731 shares during the period. Quantbot Technologies LP's holdings in GlobalFoundries were worth $2,969,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 acquiring an additional 4,845 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of GlobalFoundries by 47.3% during the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company's stock worth $127,000 after purchasing an additional 786 shares during the period. Price T Rowe Associates Inc. MD grew its position in GlobalFoundries by 15.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,395 shares of the company's stock valued at $907,000 after buying an additional 2,363 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of GlobalFoundries by 13.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 8,639 shares of the company's stock worth $445,000 after acquiring an additional 1,057 shares during the period. Finally, Massmutual Trust Co. FSB ADV purchased a new position in shares of GlobalFoundries during the 2nd quarter worth approximately $59,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GFS shares. Susquehanna reduced 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. Robert W. Baird reduced their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Cantor Fitzgerald restated a "neutral" rating and set a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, Morgan Stanley downgraded shares of GlobalFoundries from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $53.00 to $43.00 in a research report on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $50.21.

GlobalFoundries Price Performance

NASDAQ:GFS traded down $1.26 during trading hours on Thursday, reaching $42.85. 1,922,117 shares of the company traded hands, compared to its average volume of 1,632,439. 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 firm's 50-day moving average is $40.75 and its 200-day moving average is $45.89. The stock has a market cap of $23.64 billion, a P/E ratio of 31.98, a P/E/G ratio of 10.98 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Equities research analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.

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.