MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Position in GlobalFoundries Inc. (NASDAQ:GFS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,110 shares of the company's stock after selling 9,988 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of GlobalFoundries worth $17,083,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GFS. SBI Securities Co. Ltd. bought a new stake in GlobalFoundries during the fourth quarter worth about $52,000. SG Americas Securities LLC bought a new stake in shares of GlobalFoundries during the fourth quarter worth about $1,748,000. US Bancorp DE increased its position in GlobalFoundries by 187.2% in the 4th quarter. US Bancorp DE now owns 3,498 shares of the company's stock valued at $150,000 after acquiring an additional 2,280 shares during the period. Geode Capital Management LLC raised its position in GlobalFoundries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after purchasing an additional 16,921 shares during the last quarter. Finally, Polianta Ltd bought a new position in shares of GlobalFoundries during the fourth quarter worth about $1,317,000.

GlobalFoundries Price Performance

NASDAQ GFS traded down $0.23 during trading hours on Wednesday, hitting $38.89. The company had a trading volume of 368,012 shares, compared to its average volume of 1,865,990. The firm has a 50 day simple moving average of $35.82 and a 200 day simple moving average of $39.91. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of -81.15, a PEG ratio of 1.42 and a beta of 1.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. GlobalFoundries's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GFS. Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Wednesday, February 12th. UBS Group lowered their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley reduced their price objective on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Cantor Fitzgerald restated a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Finally, Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, GlobalFoundries currently has an average rating of "Moderate Buy" and an average target price 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.