Inspire Investing LLC Reduces Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Inspire Investing LLC reduced its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 14.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,029 shares of the company’s stock after selling 1,004 shares during the period. Inspire Investing LLC’s holdings in GlobalFoundries were worth $259,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC grew its holdings in GlobalFoundries by 200.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock valued at $15,168,000 after buying an additional 200,000 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of GlobalFoundries by 89.0% during the 3rd quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock worth $2,969,000 after purchasing an additional 34,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of GlobalFoundries by 1,935.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after purchasing an additional 120,960 shares during the period. Versor Investments LP grew its holdings in shares of GlobalFoundries by 167.7% during the 3rd quarter. Versor Investments LP now owns 19,008 shares of the company’s stock worth $765,000 after purchasing an additional 11,908 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of GlobalFoundries during the 4th quarter worth $1,748,000.

GlobalFoundries Price Performance

GFS stock opened at $41.20 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. The firm has a market capitalization of $22.73 billion, a P/E ratio of 30.75, a P/E/G ratio of 9.26 and a beta of 1.57. The business’s 50-day moving average is $43.04 and its two-hundred day moving average is $43.33. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. GlobalFoundries’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. Analysts anticipate that GlobalFoundries Inc. will post 1.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GFS has been the subject of a number of research analyst reports. Morgan Stanley cut GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Susquehanna lowered their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. UBS Group initiated coverage on GlobalFoundries in a report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 target price (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.21.

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.