US Bancorp DE Has $49,000 Position in GlobalFoundries Inc. (NASDAQ:GFS)

US Bancorp DE boosted its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 77.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,218 shares of the company’s stock after purchasing an additional 530 shares during the quarter. US Bancorp DE’s holdings in GlobalFoundries were worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its stake in shares of GlobalFoundries by 4.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock worth $357,000 after buying an additional 340 shares during the last quarter. CWM LLC lifted its position in GlobalFoundries by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after acquiring an additional 373 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in GlobalFoundries by 1.7% during the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock valued at $1,333,000 after acquiring an additional 444 shares during the period. Royal London Asset Management Ltd. boosted its holdings in GlobalFoundries by 1.3% during the second quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock valued at $1,758,000 after acquiring an additional 450 shares during the period. Finally, Profund Advisors LLC grew its position in shares of GlobalFoundries by 1.1% in the second quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock valued at $2,307,000 after purchasing an additional 515 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore ISI cut their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price target on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Susquehanna lowered their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird cut their target price on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.46.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock opened at $41.29 on Monday. The firm has a market cap of $22.78 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 10.08 and a beta of 1.53. The firm’s 50-day simple moving average is $40.26 and its 200-day simple moving average is $46.30. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $62.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts expect that GlobalFoundries Inc. will post 1.22 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.