Sanctuary Advisors LLC Makes New $689,000 Investment in GlobalFoundries Inc. (NASDAQ:GFS)

Sanctuary Advisors LLC purchased a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 16,101 shares of the company's stock, valued at approximately $689,000.

A number of other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of GlobalFoundries by 12.4% in the 2nd quarter. Principal Financial Group Inc. now owns 7,341 shares of the company's stock worth $371,000 after buying an additional 811 shares in the last quarter. Maryland State Retirement & Pension System grew its position in GlobalFoundries by 23.6% in the second quarter. Maryland State Retirement & Pension System now owns 7,660 shares of the company's stock worth $387,000 after acquiring an additional 1,461 shares in the last quarter. CIBC Asset Management Inc increased its stake in GlobalFoundries by 4.0% during the second quarter. CIBC Asset Management Inc now owns 102,731 shares of the company's stock worth $5,194,000 after acquiring an additional 3,941 shares during the last quarter. Versor Investments LP purchased a new stake in GlobalFoundries during the second quarter valued at approximately $359,000. Finally, Rhumbline Advisers lifted its stake in shares of GlobalFoundries by 12.1% in the 2nd quarter. Rhumbline Advisers now owns 87,029 shares of the company's stock valued at $4,400,000 after purchasing an additional 9,427 shares during the last quarter.

Analysts Set New Price Targets

GFS has been the topic of several analyst reports. Evercore ISI cut their target price 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 cut their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC reissued a "hold" rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. UBS Group began coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They set a "neutral" rating and a $47.00 price target for the company. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $40.00 price objective on shares of GlobalFoundries in a research report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, GlobalFoundries currently has a consensus rating of "Hold" and a consensus target price of $50.21.

GlobalFoundries Stock Up 1.4 %

Shares of GFS traded up $0.61 during midday trading on Wednesday, reaching $44.64. 607,457 shares of the stock were exchanged, compared to its average volume of 1,623,493. The company has a market capitalization of $24.63 billion, a P/E ratio of 33.31, a PEG ratio of 10.71 and a beta of 1.59. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $62.61. The company's 50 day moving average is $42.21 and its two-hundred day moving average is $44.85.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. On average, sell-side analysts anticipate that GlobalFoundries Inc. 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.