Sanibel Captiva Trust Company Inc. Increases Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Sanibel Captiva Trust Company Inc. lifted its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,470 shares of the company’s stock after buying an additional 1,200 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in GlobalFoundries were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of GlobalFoundries by 4.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock valued at $357,000 after purchasing an additional 340 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of GlobalFoundries by 1.7% during the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after purchasing an additional 444 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after buying an additional 463 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in GlobalFoundries by 1.5% in the third quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock valued at $1,420,000 after buying an additional 510 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in GlobalFoundries by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock worth $2,307,000 after buying an additional 515 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group started coverage on GlobalFoundries in a research report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Evercore ISI dropped their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, Robert W. Baird decreased their price objective 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. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.21.

GlobalFoundries Trading Up 5.3 %

NASDAQ:GFS opened at $43.10 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $43.08 and its 200-day simple moving average is $43.89. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $61.98. The firm has a market cap of $23.78 billion, a P/E ratio of 32.16, a PEG ratio of 8.70 and a beta of 1.57.

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

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.