Pacer Advisors Inc. grew its position in shares of GlobalFoundries Inc. (NASDAQ:GFS – Free Report) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,616 shares of the company’s stock after purchasing an additional 1,749 shares during the period. Pacer Advisors Inc.’s holdings in GlobalFoundries were worth $1,228,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC increased its position in GlobalFoundries by 2.4% during the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after acquiring an additional 1,160,403 shares during the last quarter. Weiss Asset Management LP bought a new position in GlobalFoundries in the third quarter worth approximately $8,361,000. International Assets Investment Management LLC raised its holdings in GlobalFoundries by 2,162.6% in the 3rd quarter. International Assets Investment Management LLC now owns 158,384 shares of the company’s stock worth $63,750,000 after purchasing an additional 151,384 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 valued at $5,120,000 after acquiring an additional 120,960 shares during the period. Finally, State Street Corp boosted its position in shares of GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after purchasing an additional 98,084 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GFS shares. Evercore ISI decreased their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird dropped their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Susquehanna lowered their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Morgan Stanley lowered GlobalFoundries from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $53.00 to $43.00 in a report on Monday, October 28th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, GlobalFoundries presently has an average rating of “Hold” and a consensus price target of $50.21.
GlobalFoundries Stock Performance
GlobalFoundries stock opened at $41.47 on Monday. The stock has a 50 day moving average of $43.00 and a 200-day moving average of $43.03. The stock has a market cap of $22.88 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 8.82 and a beta of 1.57. 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 52 week low of $35.85 and a 52 week high of $61.98.
GlobalFoundries (NASDAQ:GFS – Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The firm 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 was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, analysts expect that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.
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.
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