GlobalFoundries Inc. (NASDAQ:GFS) Stock Position Lessened by Verition Fund Management LLC

Verition Fund Management LLC cut its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 71.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,817 shares of the company's stock after selling 53,638 shares during the period. Verition Fund Management LLC's holdings in GlobalFoundries were worth $878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Marshall Wace LLP raised its holdings in shares of GlobalFoundries by 108.6% in the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company's stock worth $126,242,000 after purchasing an additional 1,299,687 shares during the period. FMR LLC raised its holdings in GlobalFoundries by 2.4% in the third quarter. FMR LLC now owns 49,375,403 shares of the company's stock valued at $1,987,360,000 after buying an additional 1,160,403 shares during the period. Renaissance Technologies LLC lifted its position in GlobalFoundries by 267.7% during the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company's stock valued at $17,901,000 after buying an additional 257,749 shares in the last quarter. Ghisallo Capital Management LLC grew its stake in GlobalFoundries by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company's stock worth $15,168,000 after buying an additional 200,000 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of GlobalFoundries by 2,162.6% in the third quarter. International Assets Investment Management LLC now owns 158,384 shares of the company's stock worth $63,750,000 after acquiring an additional 151,384 shares in the last quarter.

GlobalFoundries Stock Up 0.4 %

NASDAQ GFS traded up $0.16 on Monday, hitting $45.04. 1,537,050 shares of the stock traded hands, compared to its average volume of 1,631,163. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $62.61. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $24.85 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 10.96 and a beta of 1.59. The stock has a 50-day moving average of $41.43 and a 200 day moving average of $45.30.

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% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. As a group, analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GFS has been the subject of a number of research reports. UBS Group began coverage on shares of GlobalFoundries in a research report on Wednesday, November 20th. They set a "neutral" rating and a $47.00 price target for the company. Morgan Stanley lowered GlobalFoundries from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $53.00 to $43.00 in a research note on Monday, October 28th. Susquehanna reduced their price target on GlobalFoundries from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $40.00 price objective on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, Evercore ISI reduced their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an "outperform" 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 a consensus rating of "Hold" and a consensus target price of $50.21.

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.