ArrowMark Colorado Holdings LLC Sells 300,202 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

ArrowMark Colorado Holdings LLC lowered its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,340,536 shares of the company’s stock after selling 300,202 shares during the quarter. GlobalFoundries comprises approximately 1.2% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 25th largest holding. ArrowMark Colorado Holdings LLC’s holdings in GlobalFoundries were worth $94,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atom Investors LP raised its position in shares of GlobalFoundries by 283.1% in the 3rd quarter. Atom Investors LP now owns 55,007 shares of the company’s stock valued at $2,214,000 after acquiring an additional 40,649 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GlobalFoundries by 1,935.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after purchasing an additional 120,960 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of GlobalFoundries by 104.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,852 shares of the company’s stock valued at $4,220,000 after buying an additional 53,509 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of GlobalFoundries in the 3rd quarter valued at $372,000. Finally, Quantbot Technologies LP increased its position in shares of GlobalFoundries by 89.0% in the 3rd quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock valued at $2,969,000 after buying an additional 34,731 shares in the last quarter.

GlobalFoundries Price Performance

Shares of NASDAQ GFS opened at $43.25 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. The business has a 50-day moving average of $40.86 and a 200-day moving average of $45.68. The stock has a market capitalization of $23.86 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 10.56 and a beta of 1.53. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $62.61.

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

Analysts Set New Price Targets

Several research analysts have weighed in on GFS shares. Wedbush reiterated an “outperform” rating and set a $60.00 target price (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. TD Cowen cut their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup lowered 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. Finally, Evercore ISI cut their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company 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.