Select Equity Group L.P. Reduces Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Select Equity Group L.P. reduced its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 61.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,904 shares of the company's stock after selling 39,192 shares during the quarter. Select Equity Group L.P.'s holdings in GlobalFoundries were worth $1,069,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sanibel Captiva Trust Company Inc. increased its stake in GlobalFoundries by 14.5% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company's stock valued at $406,000 after acquiring an additional 1,200 shares during the last quarter. Polianta Ltd purchased a new position in GlobalFoundries during the fourth quarter valued at approximately $1,317,000. SG Americas Securities LLC purchased a new position in GlobalFoundries in the 4th quarter worth approximately $1,748,000. Blue Trust Inc. lifted its position in GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after purchasing an additional 745 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of GlobalFoundries during the 4th quarter worth approximately $338,000.

GlobalFoundries Trading Down 3.2%

GFS stock traded down $1.19 during trading on Friday, reaching $36.29. 346,548 shares of the stock traded hands, compared to its average volume of 1,870,400. The firm has a market capitalization of $20.07 billion, a PE ratio of -75.60, a P/E/G ratio of 1.42 and a beta of 1.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The business's 50 day moving average price is $35.79 and its 200-day moving average price is $39.90. GlobalFoundries Inc. has a 52-week low of $29.77 and a 52-week high of $61.98.

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

Analysts Set New Price Targets

A number of brokerages recently commented on GFS. UBS Group decreased their target price on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Wednesday, February 12th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Morgan Stanley cut their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Citigroup lowered their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.09.

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.