GlobalFoundries Inc. (NASDAQ:GFS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in GlobalFoundries Inc. (NASDAQ:GFS) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 827,776 shares of the company’s stock after selling 21,762 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in GlobalFoundries were worth $36,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP lifted its stake in shares of GlobalFoundries by 89.0% in the 3rd quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock valued at $2,969,000 after purchasing an additional 34,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of GlobalFoundries by 1,935.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock valued at $5,120,000 after purchasing an additional 120,960 shares during the period. SG Americas Securities LLC acquired a new position in shares of GlobalFoundries in the 4th quarter valued at $1,748,000. Versor Investments LP lifted its stake in shares of GlobalFoundries by 167.7% in the 3rd quarter. Versor Investments LP now owns 19,008 shares of the company’s stock valued at $765,000 after purchasing an additional 11,908 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of GlobalFoundries in the 3rd quarter valued at $8,361,000.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $40.55 on Wednesday. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $61.98. The company has a market cap of $22.37 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 8.84 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The business’s 50 day moving average price is $42.85 and its 200 day moving average price is $42.80.

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 return on equity of 6.87% and a net margin of 10.95%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $0.47 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, research analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GFS. Wedbush reissued an “outperform” rating and issued a $60.00 price target (down previously from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Evercore ISI decreased their price target on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. UBS Group initiated coverage on GlobalFoundries in a research note on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, Citigroup decreased their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, GlobalFoundries has a consensus rating of “Hold” and an average price target of $50.21.

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.