Nuveen Asset Management LLC Sells 8,318 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Nuveen Asset Management LLC reduced its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,002 shares of the company's stock after selling 8,318 shares during the period. Nuveen Asset Management LLC's holdings in GlobalFoundries were worth $9,354,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of GlobalFoundries during the fourth quarter worth $52,000. US Bancorp DE grew its stake in shares of GlobalFoundries by 187.2% during the fourth quarter. US Bancorp DE now owns 3,498 shares of the company's stock worth $150,000 after buying an additional 2,280 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GlobalFoundries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after buying an additional 16,921 shares during the last quarter. Sei Investments Co. grew its stake in shares of GlobalFoundries by 7.6% during the fourth quarter. Sei Investments Co. now owns 9,495 shares of the company's stock worth $407,000 after buying an additional 667 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of GlobalFoundries during the fourth quarter worth $338,000.

GlobalFoundries Trading Up 0.3%

Shares of GlobalFoundries stock traded up $0.12 during trading on Monday, hitting $35.92. The company's stock had a trading volume of 1,399,477 shares, compared to its average volume of 1,815,587. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The stock has a market cap of $19.86 billion, a price-to-earnings ratio of -74.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The stock has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $39.53.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The business 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%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GFS. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. UBS Group decreased their target price on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley decreased their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC raised shares of 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. Finally, Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $47.09.

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.