GlobalFoundries Inc. (NASDAQ:GFS) Stock Position Lifted by US Bancorp DE

US Bancorp DE grew its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 77.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,218 shares of the company’s stock after purchasing an additional 530 shares during the period. US Bancorp DE’s holdings in GlobalFoundries were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Marshall Wace LLP lifted its position in GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after purchasing an additional 1,299,687 shares during the period. Dimensional Fund Advisors LP lifted its stake in GlobalFoundries by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock valued at $33,063,000 after purchasing an additional 77,581 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of GlobalFoundries by 267.7% during the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after acquiring an additional 257,749 shares in the last quarter. Ghisallo Capital Management LLC grew its holdings in shares of GlobalFoundries by 200.0% in the 2nd 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. Finally, Vanguard Group Inc. raised its position in shares of GlobalFoundries by 2.0% during the first quarter. Vanguard Group Inc. now owns 252,416 shares of the company’s stock worth $13,153,000 after purchasing an additional 4,845 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GFS shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $40.00 price target on shares of GlobalFoundries in a research report on Wednesday, November 6th. Evercore ISI dropped their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. TD Cowen cut their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Finally, Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $53.00 to $43.00 in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.46.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $41.29 on Monday. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $62.61. The stock’s 50-day moving average is $40.26 and its two-hundred day moving average is $46.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. The firm has a market cap of $22.78 billion, a P/E ratio of 30.81, a PEG ratio of 10.08 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 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 the consensus estimate of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Analysts predict that GlobalFoundries Inc. will post 1.22 earnings per share 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.