Tidal Investments LLC Has $1.04 Million Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

Tidal Investments LLC reduced its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 25.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,111 shares of the company's stock after selling 8,207 shares during the period. Tidal Investments LLC's holdings in GlobalFoundries were worth $1,035,000 as of its most recent filing with the SEC.

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

GlobalFoundries Price Performance

NASDAQ:GFS traded down $0.62 during trading hours on Friday, reaching $36.29. 255,378 shares of the company were exchanged, compared to its average volume of 1,811,391. The company has a market capitalization of $20.07 billion, a P/E ratio of -75.68, 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 has a 50 day moving average of $35.60 and a 200 day moving average of $39.65. 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.58 billion. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. GlobalFoundries's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share. Research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GFS shares. Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. UBS Group cut their price objective on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a research 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. Morgan Stanley dropped their price target on 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 reduced their price target on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.09.

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.