GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC increased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 37.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,386 shares of the company’s stock after acquiring an additional 650 shares during the quarter. Wahed Invest LLC’s holdings in GlobalFoundries were worth $96,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of GlobalFoundries in the 3rd quarter worth $34,000. US Bancorp DE grew its holdings in shares of GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after acquiring an additional 530 shares during the last quarter. CWM LLC grew its holdings in shares of GlobalFoundries by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after acquiring an additional 373 shares during the last quarter. AM Squared Ltd acquired a new position in shares of GlobalFoundries in the 3rd quarter worth $60,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares during the last quarter.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS opened at $44.88 on Friday. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $62.61. The business has a 50-day moving average of $41.34 and a two-hundred day moving average of $45.40. The stock has a market capitalization of $24.76 billion, a P/E ratio of 33.49, a P/E/G ratio of 10.84 and a beta of 1.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

Analyst Ratings Changes

GFS has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $60.00 target price (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. UBS Group assumed coverage on GlobalFoundries in a research report on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, Citigroup decreased their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.