1,632 Shares in GlobalFoundries Inc. (NASDAQ:GFS) Bought by Truvestments Capital LLC

Truvestments Capital LLC bought a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,632 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in GlobalFoundries during the third quarter worth $34,000. US Bancorp DE increased its stake in GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after purchasing an additional 530 shares in the last quarter. Massmutual Trust Co. FSB ADV bought a new stake in GlobalFoundries in the second quarter valued at $59,000. AM Squared Ltd bought a new stake in GlobalFoundries in the third quarter valued at $60,000. Finally, Advisors Asset Management Inc. increased its stake in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares in the last quarter.

GlobalFoundries Stock Performance

Shares of GFS stock opened at $44.11 on Wednesday. The firm has a market cap of $24.34 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 10.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $62.61. The firm’s 50-day simple moving average is $40.57 and its two-hundred day simple moving average is $45.96.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, equities analysts forecast that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $40.00 price target on shares of GlobalFoundries in a research note on Wednesday, November 6th. Susquehanna decreased their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Robert W. Baird reduced their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, GlobalFoundries has an average rating of “Hold” and a consensus price target of $50.21.

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.