Gotham Asset Management LLC Sells 23,817 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Gotham Asset Management LLC cut its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,158 shares of the company's stock after selling 23,817 shares during the quarter. Gotham Asset Management LLC's holdings in GlobalFoundries were worth $3,611,000 at the end of the most recent quarter.

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

GlobalFoundries Price Performance

Shares of NASDAQ GFS remained flat at $39.54 during mid-day trading on Friday. 1,391,550 shares of the stock traded hands, compared to its average volume of 1,874,650. The stock has a market capitalization of $21.86 billion, a PE ratio of -82.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The company has a 50 day simple moving average of $35.72 and a two-hundred day simple moving average of $39.87.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm earned $0.31 EPS. The company'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

A number of equities research analysts have recently issued reports on the stock. Wedbush restated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Morgan Stanley cut their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. UBS Group lowered their price objective on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and an average 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.