1776 Wealth LLC Lowers Stake in GlobalFoundries Inc. (NASDAQ:GFS)

1776 Wealth LLC reduced its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 41.8% in the fourth quarter, HoldingsChannel reports. The fund owned 8,775 shares of the company’s stock after selling 6,305 shares during the period. 1776 Wealth LLC’s holdings in GlobalFoundries were worth $377,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. FMR LLC raised its holdings in GlobalFoundries by 2.4% in the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after buying an additional 1,160,403 shares during the last quarter. Weiss Asset Management LP purchased a new position in GlobalFoundries during the third quarter valued at approximately $8,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $5,120,000 after purchasing an additional 120,960 shares in the last quarter. Shade Tree Advisors LLC purchased a new position in GlobalFoundries during the fourth quarter valued at approximately $5,096,000. Finally, Handelsbanken Fonder AB increased its holdings in GlobalFoundries by 381.9% in the 4th quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company’s stock valued at $5,847,000 after acquiring an additional 107,994 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. UBS Group lowered their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley increased their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of GlobalFoundries 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.64.

GlobalFoundries Stock Down 1.0 %

NASDAQ:GFS opened at $36.86 on Thursday. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $61.98. The company has a market cap of $20.34 billion, a price-to-earnings ratio of -76.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. The stock has a fifty day simple moving average of $41.14 and a 200-day simple moving average of $41.61. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

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%. Analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current 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.