STF Management LP Lowers Stake in GlobalFoundries Inc. (NASDAQ:GFS)

STF Management LP lowered its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,914 shares of the company’s stock after selling 599 shares during the quarter. STF Management LP’s holdings in GlobalFoundries were worth $319,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in GlobalFoundries by 108.6% in the 2nd 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 raised its position in GlobalFoundries by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 653,918 shares of the company’s stock worth $33,063,000 after purchasing an additional 77,581 shares during the period. Citigroup Inc. raised its position in GlobalFoundries by 16.0% in the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after purchasing an additional 86,740 shares during the period. Renaissance Technologies LLC raised its position in GlobalFoundries by 267.7% in the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after purchasing an additional 257,749 shares during the period. Finally, Ghisallo Capital Management LLC raised its position in 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 purchasing an additional 200,000 shares during the period.

GlobalFoundries Trading Up 0.8 %

Shares of GFS opened at $42.00 on Friday. The firm’s 50-day moving average price is $40.35 and its 200-day moving average price is $46.18. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 10.35 and a beta of 1.53. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $62.61.

GlobalFoundries (NASDAQ:GFS) last announced its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GFS shares. UBS Group started coverage on shares of GlobalFoundries in a research report on Wednesday. They issued a “neutral” rating and a $47.00 target price on the stock. Robert W. Baird decreased their target price on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Morgan Stanley cut shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $53.00 to $43.00 in a research report on Monday, October 28th. Finally, Susquehanna decreased their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.21.

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.