USS Investment Management Ltd Has $1.38 Million Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

USS Investment Management Ltd cut its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GFS. SG Americas Securities LLC purchased a new stake in GlobalFoundries during the fourth quarter valued at about $1,748,000. Blue Trust Inc. lifted its position in shares of GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after purchasing an additional 745 shares in the last quarter. KBC Group NV purchased a new stake in shares of GlobalFoundries in the fourth quarter worth approximately $338,000. Pacer Advisors Inc. lifted its position in shares of GlobalFoundries by 6.5% in the fourth quarter. Pacer Advisors Inc. now owns 28,616 shares of the company's stock worth $1,228,000 after purchasing an additional 1,749 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of GlobalFoundries by 28.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,994 shares of the company's stock worth $386,000 after purchasing an additional 1,998 shares in the last quarter.

GlobalFoundries Price Performance

GlobalFoundries stock traded up $0.06 during midday trading on Thursday, reaching $36.80. The company's stock had a trading volume of 343,156 shares, compared to its average volume of 1,812,815. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $35.65 and a 200-day moving average price of $39.69. The stock has a market cap of $20.35 billion, a PE ratio of -76.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GFS shares. Morgan Stanley cut their price objective on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group reduced 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. Citigroup reduced their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, 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 report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.