Atom Investors LP Buys 40,649 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Atom Investors LP grew its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 283.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,007 shares of the company’s stock after acquiring an additional 40,649 shares during the period. Atom Investors LP’s holdings in GlobalFoundries were worth $2,214,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GFS. Allspring Global Investments Holdings LLC purchased a new position in GlobalFoundries in the third quarter valued at approximately $34,000. US Bancorp DE raised its stake in shares of GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares during the period. Massmutual Trust Co. FSB ADV bought a new stake in shares of GlobalFoundries in the second quarter valued at $59,000. AM Squared Ltd purchased a new position in shares of GlobalFoundries during the 3rd quarter valued at $60,000. Finally, Advisors Asset Management Inc. grew its stake in shares of 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 period.

GlobalFoundries Trading Up 4.3 %

Shares of GFS stock opened at $45.12 on Tuesday. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $62.61. The business’s fifty day moving average is $40.97 and its 200 day moving average is $45.62. 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 company has a market capitalization of $24.90 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 10.56 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results 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. 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 analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GFS has been the topic of a number of research reports. Citigroup lowered their price objective on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $43.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Finally, TD Cowen lowered their target price on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.