GlobalFoundries Inc. (NASDAQ:GFS) Stock Position Boosted by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 89.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,762 shares of the company’s stock after buying an additional 34,731 shares during the period. Quantbot Technologies LP’s holdings in GlobalFoundries were worth $2,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in GlobalFoundries in the 3rd quarter valued at about $34,000. US Bancorp DE grew its position in 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 buying an additional 530 shares in the last quarter. Massmutual Trust Co. FSB ADV bought a new position in GlobalFoundries in the 2nd quarter valued at about $59,000. AM Squared Ltd bought a new position in GlobalFoundries in the 3rd quarter valued at about $60,000. Finally, Advisors Asset Management Inc. grew its position in GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after buying an additional 463 shares in the last quarter.

GlobalFoundries Price Performance

GFS stock opened at $42.85 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $62.61. The firm has a market capitalization of $23.64 billion, a PE ratio of 32.33, a P/E/G ratio of 10.98 and a beta of 1.53. The firm has a 50-day moving average of $40.67 and a two-hundred day moving average of $45.91.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, analysts forecast that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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 report on Wednesday, November 6th. Citigroup reduced their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $53.00 to $43.00 in a research report on Monday, October 28th. 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. Finally, TD Cowen reduced their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, GlobalFoundries currently has a consensus rating of “Hold” and a consensus price target of $50.21.

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.