MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Position in GlobalFoundries Inc. (NASDAQ:GFS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 398,110 shares of the company’s stock after selling 9,988 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of GlobalFoundries worth $17,083,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GFS. FMR LLC grew its holdings in shares of GlobalFoundries by 7.5% in the 4th quarter. FMR LLC now owns 53,096,556 shares of the company’s stock worth $2,278,373,000 after acquiring an additional 3,721,153 shares during the period. Analog Century Management LP purchased a new stake in GlobalFoundries during the fourth quarter worth $50,298,000. BNP Paribas Financial Markets acquired a new stake in GlobalFoundries in the fourth quarter valued at $22,912,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of GlobalFoundries in the fourth quarter valued at $16,091,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of GlobalFoundries in the fourth quarter valued at $11,778,000.

GlobalFoundries Stock Performance

Shares of GFS opened at $39.54 on Friday. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $61.98. The company’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $39.87. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of -82.37, a PEG ratio of 1.42 and a beta of 1.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly 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. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.31 EPS. GlobalFoundries’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GFS. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 12th. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Morgan Stanley reduced their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. UBS Group lowered their price target 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. Finally, Citigroup cut their price objective on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.09.

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.