Sanctuary Advisors LLC Purchases New Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Sanctuary Advisors LLC acquired a new position in GlobalFoundries Inc. (NASDAQ:GFS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,101 shares of the company’s stock, valued at approximately $689,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GFS. DekaBank Deutsche Girozentrale increased its holdings in GlobalFoundries by 4.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock worth $357,000 after acquiring an additional 340 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of GlobalFoundries by 1.7% in the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock valued at $1,333,000 after purchasing an additional 444 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of GlobalFoundries by 1.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock valued at $1,758,000 after buying an additional 450 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after buying an additional 463 shares during the period. Finally, Profund Advisors LLC grew its stake in GlobalFoundries by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock valued at $2,307,000 after buying an additional 515 shares in the last quarter.

Wall Street Analyst Weigh In

GFS has been the topic of several recent research reports. Robert W. Baird dropped their target price on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. UBS Group started coverage on GlobalFoundries in a research note on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a report on Wednesday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, GlobalFoundries has an average rating of “Hold” and an average target price of $50.21.

GlobalFoundries Stock Up 1.4 %

GFS opened at $44.64 on Wednesday. The business’s fifty day simple moving average is $42.12 and its 200 day simple moving average is $44.87. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $62.61. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The stock has a market cap of $24.63 billion, a PE ratio of 33.31, a P/E/G ratio of 10.71 and a beta of 1.59.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The firm had revenue of $1.74 billion for 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%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. As a group, research analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share 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.