Deutsche Bank AG Has $17.92 Million Position in GlobalFoundries Inc. (NASDAQ:GFS)

Key Points

• Deutsche Bank AG sold 174,221 shares of GlobalFoundries, reducing its holdings by 26.4%, and now owns approximately 0.09% of the company.
• Analyst ratings indicate a consensus "Hold" rating for GlobalFoundries with a target price of $44.92, while recent price objectives have seen reductions from several firms.
• GlobalFoundries reported a quarterly earnings per share of $0.42, exceeding consensus estimates, with a revenue of $1.69 billion for the quarter, reflecting a 3.4% increase year-over-year.

Deutsche Bank AG lowered its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 26.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,426 shares of the company's stock after selling 174,221 shares during the period. Deutsche Bank AG owned about 0.09% of GlobalFoundries worth $17,917,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new position in shares of GlobalFoundries during the first quarter valued at $33,000. Signaturefd LLC lifted its holdings in shares of GlobalFoundries by 51.3% during the first quarter. Signaturefd LLC now owns 1,026 shares of the company's stock valued at $38,000 after acquiring an additional 348 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of GlobalFoundries by 26.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company's stock valued at $57,000 after acquiring an additional 320 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of GlobalFoundries during the first quarter valued at $102,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of GlobalFoundries during the fourth quarter valued at $204,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GFS. Argus began coverage on GlobalFoundries in a report on Tuesday, July 1st. They set a "buy" rating and a $52.00 price objective for the company. UBS Group cut their price objective on GlobalFoundries from $43.00 to $37.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Morgan Stanley cut their price objective on GlobalFoundries from $38.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Wedbush cut their price objective on GlobalFoundries from $48.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen cut GlobalFoundries from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $44.92.

GlobalFoundries Trading Down 0.1%

NASDAQ:GFS traded down $0.03 on Friday, hitting $33.07. 2,595,062 shares of the stock were exchanged, compared to its average volume of 2,703,392. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of -157.47, a P/E/G ratio of 1.08 and a beta of 1.50. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $47.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.92 and a current ratio of 2.63. The company's 50-day moving average price is $37.94 and its 200 day moving average price is $37.65.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.68 billion. GlobalFoundries had a positive return on equity of 6.55% and a negative net margin of 1.68%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. On average, equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current 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.