Olympiad Research LP Sells 2,798 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Olympiad Research LP trimmed its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 33.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,509 shares of the company’s stock after selling 2,798 shares during the quarter. Olympiad Research LP’s holdings in GlobalFoundries were worth $236,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries during the 3rd quarter worth approximately $34,000. Blue Trust Inc. boosted its position in GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares during the last quarter. US Bancorp DE boosted 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 acquiring an additional 530 shares during the last quarter. AM Squared Ltd acquired a new position in GlobalFoundries during the 3rd quarter worth approximately $60,000. Finally, Advisors Asset Management Inc. boosted its position in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares during the last quarter.

GlobalFoundries Trading Down 4.8 %

Shares of GlobalFoundries stock opened at $42.43 on Monday. The business has a fifty day simple moving average of $42.33 and a two-hundred day simple moving average of $42.14. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $61.98. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of -88.39, a P/E/G ratio of 1.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share 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%. Research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GFS shares. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, February 12th. Susquehanna cut their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday, February 12th. Evercore ISI cut their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Morgan Stanley increased their price objective on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.64.

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.