GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC trimmed its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 37.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,411 shares of the company's stock after selling 8,695 shares during the quarter. Bridgefront Capital LLC's holdings in GlobalFoundries were worth $618,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 411 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after buying an additional 745 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of GlobalFoundries during the 4th quarter valued at about $52,000. Graney & King LLC acquired a new stake in GlobalFoundries during the fourth quarter worth about $68,000. Finally, Covestor Ltd lifted its holdings in GlobalFoundries by 309.8% in the fourth quarter. Covestor Ltd now owns 1,680 shares of the company's stock worth $72,000 after acquiring an additional 1,270 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Wednesday, February 12th. Citigroup lowered their price target on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. UBS Group dropped their price objective on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Morgan Stanley decreased their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, GlobalFoundries currently has a consensus rating of "Moderate Buy" and an average price target of $48.33.

GlobalFoundries Price Performance

NASDAQ:GFS traded up $0.45 during midday trading on Friday, hitting $36.39. 991,530 shares of the stock were exchanged, compared to its average volume of 1,859,169. The business has a 50-day moving average price of $35.64 and a two-hundred day moving average price of $39.87. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of -75.81, a P/E/G ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Sell-side analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

About GlobalFoundries

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.