Two Sigma Advisers LP Reduces Position in GlobalFoundries Inc. (NASDAQ:GFS)

Two Sigma Advisers LP lessened its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 38.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,800 shares of the company’s stock after selling 129,000 shares during the period. Two Sigma Advisers LP’s holdings in GlobalFoundries were worth $8,788,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Treasurer of the State of North Carolina grew its stake in GlobalFoundries by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock valued at $1,855,000 after acquiring an additional 280 shares in the last quarter. Signaturefd LLC grew its stake in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after acquiring an additional 411 shares in the last quarter. Mariner LLC grew its stake in GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company’s stock valued at $348,000 after acquiring an additional 420 shares in the last quarter. American Century Companies Inc. grew its stake in GlobalFoundries by 1.7% during the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock valued at $1,113,000 after acquiring an additional 438 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after acquiring an additional 468 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GFS shares. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group decreased their target price on shares of GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Cantor Fitzgerald reiterated a “neutral” rating on shares of GlobalFoundries in a report on Monday, May 5th. Citigroup decreased their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley decreased their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.09.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $36.55 on Friday. The firm’s 50 day moving average price is $35.75 and its 200-day moving average price is $39.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The firm has a market cap of $20.21 billion, a P/E ratio of -76.14, a P/E/G ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict 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.