GlobalFoundries Inc. (NASDAQ:GFS) Position Boosted by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 41.0% in the third quarter, Holdings Channel.com reports. The firm owned 1,593 shares of the company’s stock after acquiring an additional 463 shares during the quarter. Advisors Asset Management Inc.’s holdings in GlobalFoundries were worth $64,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in GlobalFoundries in the third quarter valued at about $34,000. US Bancorp DE lifted its holdings in shares of GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares during the last quarter. Massmutual Trust Co. FSB ADV bought a new stake in shares of GlobalFoundries in the 2nd quarter valued at approximately $59,000. AM Squared Ltd bought a new stake in shares of GlobalFoundries in the 3rd quarter valued at approximately $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in GlobalFoundries in the second quarter worth approximately $65,000.

GlobalFoundries Trading Up 0.9 %

Shares of GFS stock opened at $43.25 on Friday. 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 1 year low of $35.85 and a 1 year high of $62.61. The firm’s fifty day simple moving average is $40.86 and its 200 day simple moving average is $45.74. The firm has a market capitalization of $23.86 billion, a P/E ratio of 32.28, a price-to-earnings-growth ratio of 10.46 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GFS. Evercore ISI reduced their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. UBS Group assumed coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. TD Cowen reduced their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Susquehanna lowered their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a 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. Based on data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and an average target price of $50.21.

GlobalFoundries Company 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.