GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,915 shares of the company’s stock after selling 2,851 shares during the period. Rhumbline Advisers’ holdings in GlobalFoundries were worth $3,815,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in GlobalFoundries by 2.4% in the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after buying an additional 1,160,403 shares in the last quarter. State Street Corp raised its holdings in shares of GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after purchasing an additional 98,084 shares in the last quarter. Citigroup Inc. lifted its stake in shares of GlobalFoundries by 16.0% in the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after buying an additional 86,740 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in GlobalFoundries by 16.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company’s stock valued at $8,633,000 after buying an additional 29,785 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of GlobalFoundries in the third quarter valued at about $8,361,000.

GlobalFoundries Stock Performance

GFS opened at $38.77 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $61.98. The firm has a market cap of $21.39 billion, a P/E ratio of -80.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. The business’s fifty day moving average is $42.12 and its 200-day moving average is $42.07.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Sell-side analysts expect that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on GFS shares. Citigroup lowered their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Susquehanna decreased their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird reduced their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley boosted their price target on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.64.

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.