Graham Capital Management L.P. Sells 9,162 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Graham Capital Management L.P. decreased its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 48.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,782 shares of the company's stock after selling 9,162 shares during the period. Graham Capital Management L.P.'s holdings in GlobalFoundries were worth $420,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

GFS has been the topic of several recent research reports. Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Citigroup decreased their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. UBS Group lowered their price objective on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Morgan Stanley reduced their target price on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, GlobalFoundries presently has an average rating of "Moderate Buy" and a consensus target price of $47.09.

GlobalFoundries Trading Down 0.2%

Shares of GlobalFoundries stock traded down $0.07 on Thursday, reaching $37.69. 153,841 shares of the company's stock were exchanged, compared to its average volume of 1,867,571. The company has a market capitalization of $20.84 billion, a P/E ratio of -78.58, a price-to-earnings-growth 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 debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The firm's 50-day moving average is $35.82 and its two-hundred day moving average is $39.89.

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, topping 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 analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. GlobalFoundries's revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

GlobalFoundries 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.