GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,639 shares of the company’s stock after selling 317 shares during the period. Alliancebernstein L.P.’s holdings in GlobalFoundries were worth $1,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GFS. State Street Corp raised its stake in GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after purchasing an additional 98,084 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of GlobalFoundries by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 262,872 shares of the company’s stock valued at $11,280,000 after buying an additional 48,380 shares in the last quarter. Amundi raised its position in GlobalFoundries by 5.5% during the fourth quarter. Amundi now owns 144,442 shares of the company’s stock valued at $6,012,000 after buying an additional 7,481 shares during the period. Handelsbanken Fonder AB lifted its stake in GlobalFoundries by 381.9% in the 4th quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company’s stock worth $5,847,000 after acquiring an additional 107,994 shares in the last quarter. Finally, Shade Tree Advisors LLC acquired a new stake in GlobalFoundries during the 4th quarter worth about $5,096,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GFS shares. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Citigroup dropped their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. UBS Group cut their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, GlobalFoundries currently has a consensus rating of “Moderate Buy” and an average target price of $48.85.

GlobalFoundries Stock Up 0.3 %

Shares of GFS stock opened at $31.70 on Friday. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of -66.04, a PEG ratio of 1.42 and a beta of 1.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The stock’s 50 day simple moving average is $37.89 and its 200 day simple moving average is $40.46. GlobalFoundries Inc. has a twelve month low of $29.77 and a twelve month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released 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%. As a group, research analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

About GlobalFoundries

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.