STF Management LP Has $319,000 Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

STF Management LP lessened its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,914 shares of the company’s stock after selling 599 shares during the period. STF Management LP’s holdings in GlobalFoundries were worth $319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP increased its stake in GlobalFoundries by 108.6% in the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after buying an additional 1,299,687 shares during the last quarter. Renaissance Technologies LLC increased its stake in GlobalFoundries by 267.7% in the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock valued at $17,901,000 after buying an additional 257,749 shares during the last quarter. Ghisallo Capital Management LLC increased its stake in GlobalFoundries by 200.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock valued at $15,168,000 after buying an additional 200,000 shares during the last quarter. International Assets Investment Management LLC increased its stake in GlobalFoundries by 2,162.6% in the 3rd quarter. International Assets Investment Management LLC now owns 158,384 shares of the company’s stock valued at $63,750,000 after buying an additional 151,384 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in GlobalFoundries by 128.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 235,049 shares of the company’s stock valued at $11,884,000 after buying an additional 132,170 shares during the last quarter.

GlobalFoundries Stock Up 0.8 %

Shares of NASDAQ:GFS opened at $42.00 on Friday. The firm has a fifty day moving average price of $40.35 and a two-hundred day moving average price of $46.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $62.61. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 10.35 and a beta of 1.53.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of GlobalFoundries in a research note on Wednesday. They issued a “neutral” rating and a $47.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Susquehanna cut their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.21.

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.