Tidal Investments LLC grew its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 439.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,318 shares of the company's stock after buying an additional 26,325 shares during the period. Tidal Investments LLC's holdings in GlobalFoundries were worth $1,301,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in GlobalFoundries during the 3rd quarter worth approximately $34,000. US Bancorp DE raised its holdings in shares of GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company's stock worth $49,000 after acquiring an additional 530 shares during the period. AM Squared Ltd bought a new stake in GlobalFoundries in the 3rd quarter valued at $60,000. Advisors Asset Management Inc. boosted its stake in GlobalFoundries by 41.0% in the 3rd 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 period. Finally, Truvestments Capital LLC bought a new position in GlobalFoundries during the 3rd quarter worth about $66,000.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on GFS shares. Cantor Fitzgerald restated a "neutral" rating and issued a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Evercore ISI dropped 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. UBS Group started coverage on GlobalFoundries in a research report on Wednesday, November 20th. They set a "neutral" rating and a $47.00 price target for the company. Wedbush reiterated an "outperform" rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, GlobalFoundries has an average rating of "Hold" and a consensus target price of $50.21.
View Our Latest Report on GFS
GlobalFoundries Stock Performance
Shares of GFS stock traded down $1.09 on Thursday, reaching $41.30. The stock had a trading volume of 1,522,518 shares, compared to its average volume of 1,619,166. GlobalFoundries Inc. has a 12 month low of $35.85 and a 12 month high of $62.61. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 10.71 and a beta of 1.59. The firm's 50-day moving average is $42.03 and its two-hundred day moving average is $45.03.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm earned $0.47 EPS. The firm's revenue was down 6.1% compared to the same quarter last year. On average, research analysts expect that GlobalFoundries Inc. will post 1.22 EPS 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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