International Assets Investment Management LLC lifted its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 2,162.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 158,384 shares of the company's stock after purchasing an additional 151,384 shares during the quarter. International Assets Investment Management LLC's holdings in GlobalFoundries were worth $63,750,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries during the 3rd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV acquired a new position in GlobalFoundries during the 2nd quarter valued at about $59,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GlobalFoundries during the 2nd quarter valued at about $65,000. CWM LLC lifted its position in GlobalFoundries by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company's stock valued at $68,000 after purchasing an additional 373 shares during the period. Finally, Lazard Asset Management LLC lifted its position in GlobalFoundries by 47.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company's stock valued at $127,000 after purchasing an additional 786 shares during the period.
GlobalFoundries Stock Up 3.4 %
Shares of NASDAQ:GFS traded up $1.33 during midday trading on Friday, hitting $40.40. The stock had a trading volume of 1,826,518 shares, compared to its average volume of 1,125,064. GlobalFoundries Inc. has a 12 month low of $37.94 and a 12 month high of $62.61. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The business's 50-day simple moving average is $41.34 and its 200-day simple moving average is $47.00. The company has a market cap of $22.29 billion, a P/E ratio of 24.94, a PEG ratio of 6.35 and a beta of 1.52.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.10. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the business earned $0.45 earnings per share. The firm's revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts forecast that GlobalFoundries Inc. will post 1.09 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently weighed in on GFS shares. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Cantor Fitzgerald cut their price target on shares of GlobalFoundries from $55.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 8th. Wedbush reiterated an "outperform" rating and issued a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. TD Cowen cut their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI dropped their target price on shares of GlobalFoundries from $77.00 to $71.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, GlobalFoundries has an average rating of "Moderate Buy" and an average target price of $56.38.
Check Out Our Latest Research Report on GFS
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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