USS Investment Management Ltd Sells 28,312 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

USS Investment Management Ltd trimmed its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,263 shares of the company's stock after selling 28,312 shares during the quarter. USS Investment Management Ltd's holdings in GlobalFoundries were worth $1,384,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. FMR LLC boosted its position in GlobalFoundries by 7.5% during the 4th quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after acquiring an additional 3,721,153 shares during the last quarter. Analog Century Management LP acquired a new position in GlobalFoundries during the fourth quarter worth $50,298,000. BNP Paribas Financial Markets bought a new position in GlobalFoundries in the fourth quarter valued at $22,912,000. Adage Capital Partners GP L.L.C. bought a new position in GlobalFoundries in the fourth quarter valued at $16,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in GlobalFoundries in the 4th quarter valued at $11,778,000.

Analysts Set New Price Targets

GFS has been the subject of several recent research reports. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Wednesday, February 12th. Citigroup decreased their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Morgan Stanley reduced 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, Wedbush reissued an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, GlobalFoundries presently has a consensus rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Stock Performance

NASDAQ GFS traded down $0.41 on Wednesday, reaching $36.74. The stock had a trading volume of 1,330,977 shares, compared to its average volume of 1,822,980. 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 company has a market cap of $20.31 billion, a P/E ratio of -76.54, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The firm has a fifty day moving average of $35.69 and a two-hundred day moving average of $39.71. 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 quarterly 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. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company posted $0.31 earnings per share. GlobalFoundries's revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current year.

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.