Two Sigma Advisers LP Reduces Position in GlobalFoundries Inc. (NASDAQ:GFS)

Two Sigma Advisers LP trimmed its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 28.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 333,800 shares of the company's stock after selling 133,400 shares during the period. Two Sigma Advisers LP owned 0.06% of GlobalFoundries worth $13,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of GlobalFoundries during the third quarter valued at $34,000. US Bancorp DE boosted its stake in shares of GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company's stock worth $49,000 after purchasing an additional 530 shares during the last quarter. AM Squared Ltd purchased a new stake in shares of GlobalFoundries during the third quarter worth about $60,000. Advisors Asset Management Inc. grew its holdings in shares of 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 buying an additional 463 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of GlobalFoundries during the third quarter valued at approximately $66,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lowered their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a "hold" rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Morgan Stanley cut GlobalFoundries from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $53.00 to $43.00 in a report on Monday, October 28th. Finally, 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 objective for the company. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.21.

GlobalFoundries Trading Up 0.4 %

Shares of GFS stock traded up $0.16 during mid-day trading on Monday, reaching $45.04. The company's stock had a trading volume of 1,537,050 shares, compared to its average volume of 1,631,163. 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 $24.85 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 10.96 and a beta of 1.59. The company's 50 day simple moving average is $41.34 and its 200-day simple moving average is $45.33. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $62.61.

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