GlobalFoundries Inc. (NASDAQ:GFS) Shares Purchased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. raised its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 14.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,470 shares of the company’s stock after buying an additional 1,200 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in GlobalFoundries were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Marshall Wace LLP boosted its stake in shares of GlobalFoundries by 108.6% during the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after acquiring an additional 1,299,687 shares during the last quarter. FMR LLC boosted its stake in shares of GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after purchasing an additional 1,160,403 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of GlobalFoundries by 267.7% during the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after buying an additional 257,749 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of GlobalFoundries in the third quarter valued at approximately $8,361,000. Finally, Ghisallo Capital Management LLC boosted its position in GlobalFoundries by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after acquiring an additional 200,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GFS. Evercore ISI reduced their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Citigroup cut their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and an average target price of $50.21.

GlobalFoundries Stock Performance

Shares of NASDAQ:GFS opened at $43.10 on Monday. The business’s 50-day simple moving average is $43.08 and its 200 day simple moving average is $43.89. The company has a market cap of $23.78 billion, a P/E ratio of 32.16, a PEG ratio of 8.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $61.98.

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, 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 net margin of 10.95% and a return on equity of 6.87%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. On average, sell-side analysts forecast that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal 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.