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

Inspire Investing LLC lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 36.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,033 shares of the company’s stock after buying an additional 1,875 shares during the quarter. Inspire Investing LLC’s holdings in GlobalFoundries were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV bought a new position in shares of GlobalFoundries during the 2nd quarter valued at approximately $59,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in GlobalFoundries during the second quarter valued at $65,000. CWM LLC grew its stake in shares of GlobalFoundries by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after buying an additional 373 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of GlobalFoundries by 47.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock worth $127,000 after buying an additional 786 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of GlobalFoundries by 17.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,687 shares of the company’s stock valued at $237,000 after buying an additional 688 shares in the last quarter.

GlobalFoundries Trading Up 0.1 %

Shares of GFS opened at $40.43 on Friday. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 6.45 and a beta of 1.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. GlobalFoundries Inc. has a 1-year low of $38.45 and a 1-year high of $62.61. The company has a 50-day moving average of $41.85 and a 200 day moving average of $47.42.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. GlobalFoundries’s quarterly revenue was down 11.5% on a year-over-year basis. On average, research analysts expect that GlobalFoundries Inc. will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GFS. Evercore ISI dropped their price target on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald dropped their target price on GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target on GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Finally, TD Cowen reduced their target price on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

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.