Blueshift Asset Management LLC Makes New Investment in GlobalFoundries Inc. (NASDAQ:GFS)

Blueshift Asset Management LLC acquired a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) during the third quarter, HoldingsChannel.com reports. The fund acquired 9,233 shares of the company’s stock, valued at approximately $372,000.

Several other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries in the third quarter valued at about $34,000. Massmutual Trust Co. FSB ADV acquired a new position in GlobalFoundries during the second quarter valued at approximately $59,000. US Bancorp DE increased its position in shares of GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GlobalFoundries during the second quarter worth about $65,000. Finally, CWM LLC lifted its stake in GlobalFoundries by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after buying an additional 373 shares in the last quarter.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $42.85 on Friday. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 10.98 and a beta of 1.53. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $62.61. The company has a 50-day simple moving average of $40.78 and a two-hundred day simple moving average of $45.87. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GFS. Robert W. Baird cut their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup lowered their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $53.00 to $43.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Susquehanna reduced their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, GlobalFoundries has an average rating of “Hold” and a consensus target price of $50.21.

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.