GlobalFoundries Inc. (NASDAQ:GFS) Stock Holdings Decreased by USS Investment Management Ltd

USS Investment Management Ltd decreased its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 46.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,263 shares of the company's stock after selling 28,312 shares during the period. USS Investment Management Ltd's holdings in GlobalFoundries were worth $1,384,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Teza Capital Management LLC boosted its stake in shares of GlobalFoundries by 35.8% during the fourth quarter. Teza Capital Management LLC now owns 61,186 shares of the company's stock worth $2,625,000 after buying an additional 16,141 shares during the period. Toronto Dominion Bank grew its holdings in GlobalFoundries by 110.2% during the 4th quarter. Toronto Dominion Bank now owns 16,500 shares of the company's stock valued at $708,000 after buying an additional 8,649 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in GlobalFoundries by 3.4% during the 4th quarter. Rafferty Asset Management LLC now owns 308,042 shares of the company's stock valued at $13,218,000 after buying an additional 10,236 shares during the last quarter. ProShare Advisors LLC boosted its position in GlobalFoundries by 20.8% during the fourth quarter. ProShare Advisors LLC now owns 637,867 shares of the company's stock worth $27,371,000 after acquiring an additional 109,722 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in GlobalFoundries during the fourth quarter worth approximately $423,000.

Analyst Ratings Changes

GFS has been the topic of a number of research analyst reports. Wedbush reiterated an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. 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 report on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Morgan Stanley dropped their price target 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. Finally, Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, GlobalFoundries presently has an average rating of "Moderate Buy" and a consensus price target of $47.09.

GlobalFoundries Stock Up 1.6%

Shares of GFS traded up $0.60 during midday trading on Tuesday, hitting $37.15. The company had a trading volume of 1,661,025 shares, compared to its average volume of 1,824,937. The company's 50 day moving average price is $35.69 and its 200 day moving average price is $39.71. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of -77.39, a PEG ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities research analysts predict 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.