Marshall Wace LLP Purchases 1,299,687 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Marshall Wace LLP boosted its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 108.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,496,871 shares of the company’s stock after acquiring an additional 1,299,687 shares during the period. Marshall Wace LLP owned about 0.45% of GlobalFoundries worth $126,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV purchased a new stake in GlobalFoundries during the second quarter worth $59,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in GlobalFoundries during the second quarter valued at about $65,000. CWM LLC boosted its position in GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares in the last quarter. Lazard Asset Management LLC grew its stake in GlobalFoundries by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after purchasing an additional 786 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in GlobalFoundries by 128.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock worth $129,000 after purchasing an additional 1,391 shares in the last quarter.

Analyst Ratings Changes

GFS has been the topic of a number of analyst reports. Evercore ISI cut their price objective on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. TD Cowen dropped their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price on shares of GlobalFoundries in a research report on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, GlobalFoundries presently has an average rating of “Moderate Buy” and an average target price of $57.54.

GlobalFoundries Trading Down 0.2 %

GFS stock opened at $39.35 on Tuesday. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a 52-week low of $38.49 and a 52-week high of $62.61. The company’s 50-day simple moving average is $45.75 and its 200-day simple moving average is $49.02. The firm has a market cap of $21.71 billion, a P/E ratio of 24.29, a PEG ratio of 6.64 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. During the same period in the previous year, the business earned $0.45 earnings per share. The business’s revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts forecast that GlobalFoundries Inc. will post 1.09 EPS for the current fiscal 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.