GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. decreased its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 17.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,826 shares of the company’s stock after selling 10,820 shares during the quarter. Global X Japan Co. Ltd.’s holdings in GlobalFoundries were worth $2,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV acquired a new stake in GlobalFoundries in the second quarter valued at $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GlobalFoundries in the second quarter valued at $65,000. CWM LLC boosted its position 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. Finally, Lazard Asset Management LLC grew its stake in GlobalFoundries by 47.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after acquiring an additional 786 shares during the last quarter.

Analyst Ratings Changes

GFS has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of GlobalFoundries in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on GlobalFoundries from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. TD Cowen lowered their target price on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI cut their price target on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald decreased their price objective on GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock opened at $39.30 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a twelve month low of $38.45 and a twelve month high of $62.61. The stock has a market capitalization of $21.68 billion, a P/E ratio of 24.26, a PEG ratio of 6.45 and a beta of 1.52. The business’s fifty day moving average price is $41.68 and its 200 day moving average price is $47.24.

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

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.