X Square Capital LLC Has $979,000 Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

X Square Capital LLC lifted its position in GlobalFoundries Inc. (NASDAQ:GFS) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,329 shares of the company’s stock after buying an additional 894 shares during the quarter. X Square Capital LLC’s holdings in GlobalFoundries were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries during the 3rd quarter valued at $34,000. Massmutual Trust Co. FSB ADV acquired a new position in GlobalFoundries during the 2nd quarter valued at $59,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GlobalFoundries during the 2nd quarter valued at $65,000. CWM LLC raised its stake in GlobalFoundries by 38.6% during the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in GlobalFoundries by 47.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after purchasing an additional 786 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GFS shares. TD Cowen dropped their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $65.00 price objective on shares of GlobalFoundries in a research note on Wednesday, August 7th. Cantor Fitzgerald dropped their price objective on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

GlobalFoundries Stock Down 2.4 %

Shares of NASDAQ:GFS opened at $38.37 on Thursday. GlobalFoundries Inc. has a 12 month low of $37.94 and a 12 month high of $62.61. The company’s 50-day moving average price is $41.57 and its two-hundred day moving average price is $47.18. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The firm has a market cap of $21.17 billion, a P/E ratio of 23.69, a P/E/G ratio of 6.45 and a beta of 1.52.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts forecast that GlobalFoundries Inc. will post 1.09 EPS for the current fiscal year.

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.