GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,721 shares of the company's stock after selling 12,489 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in GlobalFoundries were worth $4,923,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 411 shares during the last quarter. Blue Trust Inc. lifted its position in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after buying an additional 745 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of GlobalFoundries in the 4th quarter worth about $52,000. Graney & King LLC bought a new position in shares of GlobalFoundries in the 4th quarter worth about $68,000. Finally, Covestor Ltd lifted its position in shares of GlobalFoundries by 309.8% in the 4th quarter. Covestor Ltd now owns 1,680 shares of the company's stock worth $72,000 after buying an additional 1,270 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GFS shares. Wedbush restated an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Morgan Stanley dropped their price objective on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. 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. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Finally, Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.09.

GlobalFoundries Price Performance

GlobalFoundries stock traded down $0.20 during trading hours on Thursday, hitting $37.51. 1,095,774 shares of the company traded hands, compared to its average volume of 1,816,751. The firm has a market cap of $20.74 billion, a P/E ratio of -78.14, a P/E/G ratio of 1.42 and a beta of 1.54. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $35.47 and its two-hundred day simple moving average is $39.50. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98.

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