Gotham Asset Management LLC Trims Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Gotham Asset Management LLC lowered its position in GlobalFoundries Inc. (NASDAQ:GFS) by 22.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,158 shares of the company’s stock after selling 23,817 shares during the period. Gotham Asset Management LLC’s holdings in GlobalFoundries were worth $3,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GFS. Sanibel Captiva Trust Company Inc. lifted its position in shares of 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 purchasing an additional 1,200 shares during the last quarter. Polianta Ltd purchased a new position in GlobalFoundries in the 4th quarter worth about $1,317,000. SG Americas Securities LLC bought a new stake in GlobalFoundries during the 4th quarter valued at about $1,748,000. Blue Trust Inc. boosted its position in 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 buying an additional 745 shares during the period. Finally, KBC Group NV bought a new position in GlobalFoundries in the 4th quarter worth about $338,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GFS shares. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Wednesday, February 12th. Citigroup dropped their price objective on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. UBS Group decreased their target price on GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, Morgan Stanley dropped their price target on 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.09.

GlobalFoundries Stock Up 0.8%

Shares of NASDAQ GFS opened at $40.03 on Thursday. GlobalFoundries Inc. has a 12-month low of $29.77 and a 12-month high of $61.98. The stock’s fifty day simple moving average is $35.68 and its two-hundred day simple moving average is $39.87. The stock has a market capitalization of $22.13 billion, a PE ratio of -83.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, analysts expect that GlobalFoundries Inc. will post 1.31 EPS 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.