Wells Fargo & Company MN Sells 81,373 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Wells Fargo & Company MN reduced its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 57.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,772 shares of the company's stock after selling 81,373 shares during the quarter. Wells Fargo & Company MN's holdings in GlobalFoundries were worth $2,565,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Tidal Investments LLC grew its position in GlobalFoundries by 439.3% in the 3rd quarter. Tidal Investments LLC now owns 32,318 shares of the company's stock worth $1,301,000 after purchasing an additional 26,325 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its position in GlobalFoundries by 14.5% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company's stock worth $406,000 after buying an additional 1,200 shares in the last quarter. Polianta Ltd bought a new position in GlobalFoundries during the fourth quarter valued at about $1,317,000. SG Americas Securities LLC bought a new stake in GlobalFoundries in the fourth quarter valued at $1,748,000. Finally, Blue Trust Inc. raised its stake in GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after acquiring an additional 745 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wedbush reaffirmed an "outperform" rating and set a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. 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. Citigroup lowered their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Morgan Stanley upped their target price on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Finally, UBS Group lowered their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, GlobalFoundries currently has a consensus rating of "Moderate Buy" and an average target price of $48.23.

GlobalFoundries Trading Up 1.2 %

Shares of GlobalFoundries stock traded up $0.42 during trading on Wednesday, hitting $35.07. 1,335,370 shares of the company were exchanged, compared to its average volume of 1,861,317. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The firm has a market capitalization of $19.39 billion, a P/E ratio of -73.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The firm's fifty day moving average price is $36.27 and its 200 day moving average price is $40.12. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, sell-side analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

About GlobalFoundries

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.