ProShare Advisors LLC Sells 151,942 Shares of GlobalFoundries Inc. $GFS

ProShare Advisors LLC trimmed its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 19.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 610,902 shares of the company’s stock after selling 151,942 shares during the period. ProShare Advisors LLC’s holdings in GlobalFoundries were worth $21,895,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its position in GlobalFoundries by 85.5% during the second quarter. Allworth Financial LP now owns 894 shares of the company’s stock valued at $34,000 after acquiring an additional 412 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of GlobalFoundries by 824.7% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the company’s stock valued at $38,000 after purchasing an additional 800 shares in the last quarter. First Horizon Corp bought a new position in shares of GlobalFoundries during the 3rd quarter valued at $33,000. Frazier Financial Advisors LLC purchased a new position in GlobalFoundries in the 3rd quarter worth $43,000. Finally, PNC Financial Services Group Inc. raised its position in GlobalFoundries by 1,169.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,714 shares of the company’s stock worth $65,000 after purchasing an additional 1,579 shares during the period.

GlobalFoundries Trading Down 3.7%

GFS opened at $41.90 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 3.03 and a debt-to-equity ratio of 0.13. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $48.56. The stock has a market cap of $23.17 billion, a PE ratio of -465.50, a PEG ratio of 1.78 and a beta of 1.50. The business has a 50 day moving average of $39.84 and a 200-day moving average of $36.26.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). GlobalFoundries had a positive return on equity of 6.64% and a negative net margin of 0.65%.The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Evercore lifted their price objective on GlobalFoundries from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. Wedbush lowered GlobalFoundries from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $40.00 in a research report on Wednesday, December 31st. Morgan Stanley set a $43.00 price target on GlobalFoundries in a research note on Monday. Zacks Research raised GlobalFoundries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $38.00 target price on shares of GlobalFoundries in a report on Monday, October 27th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, GlobalFoundries currently has a consensus rating of “Hold” and an average target price of $42.23.

GlobalFoundries Profile

GlobalFoundries, Inc (NASDAQ: GFS) is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.

GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.