Bank of New York Mellon Corp Has $21.03 Million Position in GlobalFoundries Inc. (NASDAQ:GFS)

Bank of New York Mellon Corp cut its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,972 shares of the company’s stock after selling 9,962 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of GlobalFoundries worth $21,025,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Blue Trust Inc. increased its position in GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares during the period. US Bancorp DE increased its stake in shares of 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 acquiring an additional 530 shares in the last quarter. AM Squared Ltd bought a new stake in shares of GlobalFoundries in the 3rd quarter valued at $60,000. Advisors Asset Management Inc. increased its stake in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in GlobalFoundries during the 3rd quarter valued at $66,000.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS opened at $39.74 on Tuesday. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The business has a 50-day simple moving average of $41.37 and a two-hundred day simple moving average of $41.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of -82.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GFS shares. UBS Group cut their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, February 12th. Morgan Stanley upped their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.64.

About GlobalFoundries

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.