GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 248,693 shares of the company’s stock after selling 2,517 shares during the period. Victory Capital Management Inc.’s holdings in GlobalFoundries were worth $10,010,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of GlobalFoundries during the third quarter worth about $34,000. US Bancorp DE grew its position in GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares in the last quarter. Massmutual Trust Co. FSB ADV bought a new position in GlobalFoundries in the 2nd quarter valued at about $59,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in GlobalFoundries in the 2nd quarter valued at about $65,000. Finally, CWM LLC grew its position in GlobalFoundries by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after buying an additional 373 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GFS. Evercore ISI decreased their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Finally, TD Cowen reduced their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.21.

GlobalFoundries Price Performance

GFS stock opened at $42.00 on Friday. 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 one year low of $35.85 and a one year high of $62.61. The firm has a market capitalization of $23.17 billion, a PE ratio of 31.09, a P/E/G ratio of 10.35 and a beta of 1.53. The firm has a 50-day moving average of $40.35 and a two-hundred day moving average of $46.18.

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

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.