GlobalFoundries Inc. $GFS Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,934 shares of the company’s stock after selling 32,420 shares during the quarter. Bank of New York Mellon Corp owned 0.08% of GlobalFoundries worth $16,958,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Machina Capital S.A.S. acquired a new position in GlobalFoundries during the 2nd quarter worth $1,283,000. Versor Investments LP bought a new stake in shares of GlobalFoundries during the second quarter valued at about $290,000. Whalen Wealth Management Inc. acquired a new stake in GlobalFoundries in the second quarter worth about $1,027,000. Boothe Investment Group Inc. bought a new position in GlobalFoundries in the 2nd quarter valued at about $2,761,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in GlobalFoundries by 4.8% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 132,288 shares of the company’s stock valued at $5,053,000 after buying an additional 6,022 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GFS. Arete Research set a $37.00 price target on shares of GlobalFoundries in a research note on Wednesday, August 27th. BNP Paribas Exane started coverage on GlobalFoundries in a report on Friday, October 24th. They set an “outperform” rating and a $45.00 target price on the stock. Wall Street Zen lowered GlobalFoundries from a “buy” rating to a “hold” rating in a research note on Saturday. Arete raised GlobalFoundries from a “sell” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research note on Wednesday, August 27th. Finally, Evercore ISI raised their target price on GlobalFoundries from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GlobalFoundries presently has an average rating of “Hold” and a consensus target price of $40.21.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS opened at $33.05 on Monday. The company has a market capitalization of $18.27 billion, a PE ratio of -367.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.24 and a current ratio of 3.03. The stock has a fifty day moving average of $34.29 and a 200-day moving average of $36.06. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $47.69.

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.