Truvestments Capital LLC Trims Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

Truvestments Capital LLC trimmed its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,358 shares of the company’s stock after selling 274 shares during the quarter. Truvestments Capital LLC’s holdings in GlobalFoundries were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 463 shares in the last quarter. Private Advisor Group LLC boosted its holdings in GlobalFoundries by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after purchasing an additional 468 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in GlobalFoundries by 1.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock valued at $1,420,000 after purchasing an additional 510 shares in the last quarter. US Bancorp DE increased its position in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after purchasing an additional 530 shares during the period. Finally, Wahed Invest LLC raised its stake in shares of GlobalFoundries by 37.4% during the 3rd quarter. Wahed Invest LLC now owns 2,386 shares of the company’s stock worth $96,000 after buying an additional 650 shares in the last quarter.

Wall Street Analysts Forecast Growth

GFS has been the subject of a number of recent analyst reports. 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 report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group lowered their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.64.

GlobalFoundries Stock Down 0.9 %

GFS opened at $36.53 on Friday. The firm has a market cap of $20.16 billion, a P/E ratio of -76.10, a PEG ratio of 1.42 and a beta of 1.57. The business’s fifty day simple moving average is $41.02 and its 200 day simple moving average is $41.57. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $61.98. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. As a group, equities research analysts anticipate 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.