ING Groep NV Sells 25,005 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

ING Groep NV lowered its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 64.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 13,502 shares of the company’s stock after selling 25,005 shares during the period. ING Groep NV’s holdings in GlobalFoundries were worth $579,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP grew its holdings in GlobalFoundries by 89.0% during the third quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock worth $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 position in GlobalFoundries by 1,935.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after acquiring an additional 120,960 shares during the last quarter. SG Americas Securities LLC acquired a new stake in GlobalFoundries during the fourth quarter worth approximately $1,748,000. Versor Investments LP lifted its position in GlobalFoundries by 167.7% during the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock worth $765,000 after acquiring an additional 11,908 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in GlobalFoundries during the third quarter worth approximately $8,361,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GFS. Evercore ISI cut their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird cut their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, UBS Group cut their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GlobalFoundries currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

GlobalFoundries Stock Down 2.1 %

NASDAQ GFS opened at $41.52 on Tuesday. The business has a fifty day moving average price of $42.28 and a two-hundred day moving average price of $42.12. 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 Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The stock has a market capitalization of $22.91 billion, a PE ratio of -86.50, a PEG ratio of 1.42 and a beta of 1.56.

GlobalFoundries (NASDAQ:GFS) last released its earnings results 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%. Equities analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal 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.