Advisors Asset Management Inc. Grows Position in GlobalFoundries Inc. (NASDAQ:GFS)

Advisors Asset Management Inc. raised its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 41.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,593 shares of the company’s stock after purchasing an additional 463 shares during the period. Advisors Asset Management Inc.’s holdings in GlobalFoundries were worth $64,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AM Squared Ltd purchased a new stake in GlobalFoundries during the third quarter valued at about $60,000. CIBC Asset Management Inc lifted its stake in shares of GlobalFoundries by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 106,529 shares of the company’s stock valued at $4,288,000 after purchasing an additional 3,798 shares in the last quarter. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of GlobalFoundries by 18.8% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 7,200 shares of the company’s stock worth $290,000 after purchasing an additional 1,141 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in GlobalFoundries by 13.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 107,802 shares of the company’s stock worth $4,339,000 after purchasing an additional 12,948 shares in the last quarter. Finally, Versor Investments LP raised its holdings in GlobalFoundries by 167.7% in the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock valued at $765,000 after buying an additional 11,908 shares during the period.

GlobalFoundries Trading Up 0.9 %

Shares of GFS opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The company has a market capitalization of $23.86 billion, a P/E ratio of 32.28, a P/E/G ratio of 10.46 and a beta of 1.53. The stock has a 50-day moving average price of $40.86 and a 200 day moving average price of $45.74. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $62.61.

GlobalFoundries (NASDAQ:GFS) last released its quarterly 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. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. GlobalFoundries’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. Sell-side analysts forecast that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GFS shares. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Susquehanna decreased their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. TD Cowen lowered their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird reduced their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and a consensus price target of $50.21.

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.