Olympiad Research LP Sells 2,798 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Olympiad Research LP lessened its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 33.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,509 shares of the company’s stock after selling 2,798 shares during the quarter. Olympiad Research LP’s holdings in GlobalFoundries were worth $236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GFS. Handelsbanken Fonder AB boosted its stake in shares of GlobalFoundries by 381.9% in the 4th quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company’s stock valued at $5,847,000 after purchasing an additional 107,994 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of GlobalFoundries by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after purchasing an additional 468 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of GlobalFoundries by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 110,046 shares of the company’s stock valued at $4,722,000 after purchasing an additional 3,517 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after purchasing an additional 745 shares in the last quarter. Finally, Shade Tree Advisors LLC acquired a new stake in shares of GlobalFoundries in the 4th quarter valued at $5,096,000.

GlobalFoundries Stock Performance

Shares of NASDAQ:GFS opened at $42.43 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $23.41 billion, a P/E ratio of -88.39, a P/E/G ratio of 1.42 and a beta of 1.56. The business has a 50-day moving average price of $42.33 and a two-hundred day moving average price of $42.14. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Equities analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GFS. UBS Group reduced their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Citigroup reduced their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.64.

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.