Janney Montgomery Scott LLC Sells 3,940 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Janney Montgomery Scott LLC decreased its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,029 shares of the company’s stock after selling 3,940 shares during the period. Janney Montgomery Scott LLC’s holdings in GlobalFoundries were worth $902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GFS. Sei Investments Co. boosted its holdings in shares of GlobalFoundries by 69.9% during the 2nd quarter. Sei Investments Co. now owns 6,671 shares of the company’s stock valued at $337,000 after buying an additional 2,745 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in GlobalFoundries by 44.9% during the third quarter. Handelsbanken Fonder AB now owns 28,276 shares of the company’s stock worth $1,138,000 after acquiring an additional 8,765 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its stake in GlobalFoundries by 67.1% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 8,270 shares of the company’s stock worth $333,000 after acquiring an additional 3,320 shares in the last quarter. Inspire Investing LLC grew its holdings in GlobalFoundries by 36.4% in the third quarter. Inspire Investing LLC now owns 7,033 shares of the company’s stock worth $283,000 after purchasing an additional 1,875 shares during the period. Finally, Creative Planning purchased a new position in shares of GlobalFoundries during the third quarter valued at approximately $295,000.

GlobalFoundries Trading Down 4.9 %

Shares of NASDAQ:GFS opened at $38.60 on Friday. The company has a market capitalization of $21.30 billion, a PE ratio of 28.81, a P/E/G ratio of 8.84 and a beta of 1.56. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $42.81 and its 200-day simple moving average is $42.79. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. As a group, equities research analysts predict that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI lowered their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Cantor Fitzgerald reissued a “neutral” rating and issued a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 target price (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.