GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its position in GlobalFoundries Inc. (NASDAQ:GFS) by 38.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 204,800 shares of the company’s stock after selling 129,000 shares during the period. Two Sigma Advisers LP’s holdings in GlobalFoundries were worth $8,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GFS. 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 valued at $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% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after purchasing an additional 745 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries in the 4th quarter valued at $52,000. Graney & King LLC purchased a new position in shares of GlobalFoundries in the 4th quarter valued at $68,000. Finally, Covestor Ltd grew its position in shares of GlobalFoundries by 309.8% in the 4th quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after buying an additional 1,270 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup dropped 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. UBS Group dropped their target price 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. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of GlobalFoundries in a research report on Monday, May 5th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Morgan Stanley dropped their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, GlobalFoundries currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.09.

GlobalFoundries Trading Down 2.5%

NASDAQ GFS opened at $36.55 on Friday. 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 has a market cap of $20.21 billion, a PE ratio of -76.14, a P/E/G ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The firm’s fifty day moving average is $35.75 and its two-hundred day moving average is $39.87.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $1.59 billion for 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 business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current 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.