Quantbot Technologies LP Decreases Position in GlobalFoundries Inc. (NASDAQ:GFS)

Quantbot Technologies LP decreased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,175 shares of the company’s stock after selling 15,587 shares during the period. Quantbot Technologies LP’s holdings in GlobalFoundries were worth $2,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Royal London Asset Management Ltd. boosted its holdings in GlobalFoundries by 17.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 41,503 shares of the company’s stock valued at $1,781,000 after purchasing an additional 6,228 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in GlobalFoundries by 28.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 32,525 shares of the company’s stock valued at $1,396,000 after purchasing an additional 7,118 shares during the last quarter. OPTIMAS CAPITAL Ltd purchased a new position in GlobalFoundries in the fourth quarter valued at about $1,802,000. Signaturefd LLC boosted its holdings in GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in GlobalFoundries by 25.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 27,695 shares of the company’s stock valued at $1,196,000 after purchasing an additional 5,595 shares during the last quarter.

GlobalFoundries Stock Up 1.3 %

Shares of GlobalFoundries stock opened at $38.63 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $40.54 and its 200-day simple moving average is $41.24. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of -80.48, a PEG ratio of 1.42 and a beta of 1.57. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GFS shares. UBS Group reduced their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Morgan Stanley increased their price target on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.64.

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.