GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in GlobalFoundries Inc. (NASDAQ:GFS) by 2.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 476,354 shares of the company’s stock after selling 13,618 shares during the period. Bank of New York Mellon Corp owned about 0.09% of GlobalFoundries worth $17,582,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in GFS. Signaturefd LLC lifted its position in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 411 shares during the period. Graney & King LLC purchased a new stake in shares of GlobalFoundries during the 4th quarter valued at about $68,000. Covestor Ltd grew its stake in GlobalFoundries by 309.8% during the 4th quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after purchasing an additional 1,270 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in GlobalFoundries by 305.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,102 shares of the company’s stock valued at $90,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in GlobalFoundries during the 4th quarter valued at approximately $204,000.

GlobalFoundries Stock Performance

GFS opened at $40.33 on Friday. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of -118.61, a P/E/G ratio of 1.27 and a beta of 1.50. The business’s 50-day moving average price is $38.56 and its two-hundred day moving average price is $38.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.77. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $57.83.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.28% and a negative net margin of 2.77%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company posted $0.31 earnings per share. GlobalFoundries’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GFS shares. The Goldman Sachs Group started coverage on GlobalFoundries in a research report on Thursday, July 10th. They set a “neutral” rating and a $40.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating on shares of GlobalFoundries in a research note on Monday, May 5th. Wall Street Zen upgraded GlobalFoundries from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Argus assumed coverage on GlobalFoundries in a report on Tuesday, July 1st. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Morgan Stanley dropped their price target on GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.46.

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.