Central Bank & Trust Co. Sells 1,000 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Central Bank & Trust Co. cut its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the company’s stock after selling 1,000 shares during the period. Central Bank & Trust Co.’s holdings in GlobalFoundries were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GFS. DekaBank Deutsche Girozentrale lifted its position in shares of GlobalFoundries by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock worth $357,000 after acquiring an additional 340 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in GlobalFoundries by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after purchasing an additional 444 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after purchasing an additional 463 shares during the period. Royal London Asset Management Ltd. boosted its stake in GlobalFoundries by 1.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock worth $1,420,000 after purchasing an additional 510 shares during the period. Finally, Profund Advisors LLC grew its holdings in GlobalFoundries by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 45,626 shares of the company’s stock valued at $2,307,000 after buying an additional 515 shares in the last quarter.

GlobalFoundries Stock Performance

Shares of NASDAQ GFS opened at $43.10 on Tuesday. The stock’s 50-day moving average is $43.09 and its 200 day moving average is $43.84. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 32.16, a P/E/G ratio of 8.70 and a beta of 1.57. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $61.98. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GlobalFoundries Inc. will post 1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a research note on Wednesday, November 6th. Citigroup reduced their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Robert W. Baird decreased their price target on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.