Central Bank & Trust Co. Decreases Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Central Bank & Trust Co. lowered its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 16.7% in the 4th quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GFS. Polianta Ltd bought a new stake in GlobalFoundries during the 4th quarter valued at $1,317,000. Sanibel Captiva Trust Company Inc. raised its stake in shares of GlobalFoundries by 14.5% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company’s stock valued at $406,000 after acquiring an additional 1,200 shares during the last quarter. Tidal Investments LLC raised its stake in shares of GlobalFoundries by 439.3% during the third quarter. Tidal Investments LLC now owns 32,318 shares of the company’s stock valued at $1,301,000 after acquiring an additional 26,325 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of GlobalFoundries during the third quarter worth about $689,000. Finally, Toronto Dominion Bank grew its stake in shares of GlobalFoundries by 55.8% in the third quarter. Toronto Dominion Bank now owns 7,851 shares of the company’s stock worth $316,000 after purchasing an additional 2,811 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GFS shares. Susquehanna dropped their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price target on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Citigroup reduced their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Finally, UBS Group initiated coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.21.

GlobalFoundries Stock Performance

Shares of GFS opened at $43.10 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The stock has a market cap of $23.78 billion, a P/E ratio of 32.16, a P/E/G ratio of 8.70 and a beta of 1.57. The business’s 50 day moving average price is $43.09 and its 200-day moving average price is $43.84. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released its 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 return on equity of 6.87% and a net margin of 10.95%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal 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.