GlobalFoundries Inc. (NASDAQ:GFS) Stock Holdings Cut by Mubadala Investment Co PJSC

Mubadala Investment Co PJSC reduced its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 450,387,613 shares of the company’s stock after selling 19,114,381 shares during the quarter. GlobalFoundries accounts for approximately 96.3% of Mubadala Investment Co PJSC’s holdings, making the stock its biggest position. Mubadala Investment Co PJSC owned about 81.63% of GlobalFoundries worth $18,128,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GFS. Vanguard Group Inc. increased its stake in shares of GlobalFoundries by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 252,416 shares of the company’s stock worth $13,153,000 after purchasing an additional 4,845 shares in the last quarter. Lazard Asset Management LLC increased its position in GlobalFoundries by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock worth $127,000 after buying an additional 786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of GlobalFoundries by 15.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,395 shares of the company’s stock worth $907,000 after buying an additional 2,363 shares during the period. Tidal Investments LLC lifted its position in shares of GlobalFoundries by 343.7% during the 1st quarter. Tidal Investments LLC now owns 94,320 shares of the company’s stock valued at $4,915,000 after buying an additional 73,060 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of GlobalFoundries by 13.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,639 shares of the company’s stock valued at $445,000 after acquiring an additional 1,057 shares during the period.

GlobalFoundries Stock Up 5.0 %

NASDAQ:GFS opened at $44.95 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $62.61. The company has a 50-day moving average of $40.57 and a 200 day moving average of $45.96. The firm has a market cap of $24.80 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 10.45 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. GlobalFoundries’s revenue was down 6.1% on a year-over-year basis. As a group, research analysts anticipate that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $40.00 price target on shares of GlobalFoundries in a research note on Wednesday, November 6th. Citigroup reduced their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Susquehanna dropped their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, GlobalFoundries presently has an average rating of “Hold” and an average target price of $50.21.

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.