Tidal Investments LLC Buys 26,325 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Tidal Investments LLC increased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 439.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,318 shares of the company’s stock after buying an additional 26,325 shares during the quarter. Tidal Investments LLC’s holdings in GlobalFoundries were worth $1,301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ghisallo Capital Management LLC lifted its holdings in shares of GlobalFoundries by 200.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after acquiring an additional 200,000 shares during the last quarter. Quantbot Technologies LP raised its position in GlobalFoundries by 89.0% in the 3rd quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock worth $2,969,000 after purchasing an additional 34,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GlobalFoundries by 1,935.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after purchasing an additional 120,960 shares during the last quarter. Global X Japan Co. Ltd. boosted its position in shares of GlobalFoundries by 52.0% during the second quarter. Global X Japan Co. Ltd. now owns 63,646 shares of the company’s stock valued at $3,218,000 after buying an additional 21,765 shares during the period. Finally, Versor Investments LP boosted its position in shares of GlobalFoundries by 167.7% during the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock valued at $765,000 after buying an additional 11,908 shares during the period.

GlobalFoundries Stock Down 3.4 %

GlobalFoundries stock opened at $42.39 on Thursday. 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 firm has a market cap of $23.39 billion, a P/E ratio of 31.63, a P/E/G ratio of 10.71 and a beta of 1.59. The business has a fifty day moving average of $42.03 and a two-hundred day moving average of $45.03. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $62.61.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GFS shares. UBS Group assumed coverage on GlobalFoundries in a report on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 price target on the stock. Evercore ISI decreased their target price on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $53.00 to $43.00 in a report on Monday, October 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.