ProShare Advisors LLC Sells 151,942 Shares of GlobalFoundries Inc. $GFS

ProShare Advisors LLC lowered its position in GlobalFoundries Inc. (NASDAQ:GFS) by 19.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 610,902 shares of the company’s stock after selling 151,942 shares during the period. ProShare Advisors LLC owned 0.11% of GlobalFoundries worth $21,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of GlobalFoundries by 10.1% in the second quarter. Invesco Ltd. now owns 2,744,519 shares of the company’s stock valued at $104,841,000 after buying an additional 252,772 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of GlobalFoundries by 0.6% in the 3rd quarter. Pacer Advisors Inc. now owns 1,874,440 shares of the company’s stock worth $67,180,000 after acquiring an additional 11,648 shares during the last quarter. AQR Capital Management LLC lifted its position in GlobalFoundries by 852.9% in the 2nd quarter. AQR Capital Management LLC now owns 972,454 shares of the company’s stock valued at $37,148,000 after acquiring an additional 870,406 shares in the last quarter. Geode Capital Management LLC boosted its stake in GlobalFoundries by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 967,202 shares of the company’s stock valued at $36,947,000 after purchasing an additional 37,026 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in GlobalFoundries by 18.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 823,128 shares of the company’s stock valued at $31,443,000 after purchasing an additional 128,044 shares during the last quarter.

GlobalFoundries Trading Down 3.7%

Shares of GlobalFoundries stock opened at $41.90 on Wednesday. The stock has a market capitalization of $23.17 billion, a P/E ratio of -465.50, a P/E/G ratio of 1.78 and a beta of 1.50. GlobalFoundries Inc. has a 52-week low of $29.77 and a 52-week high of $48.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.24 and a current ratio of 3.03. The stock’s 50-day simple moving average is $39.84 and its 200 day simple moving average is $36.26.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Wednesday, November 12th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. GlobalFoundries had a positive return on equity of 6.64% and a negative net margin of 0.65%.GlobalFoundries’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. As a group, research analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GFS shares. UBS Group restated a “neutral” rating and issued a $45.00 target price on shares of GlobalFoundries in a report on Monday, February 2nd. Bank of America raised their price objective on GlobalFoundries from $33.00 to $37.00 and gave the company an “underperform” rating in a research note on Thursday, December 4th. Wedbush downgraded shares of GlobalFoundries from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $42.00 to $40.00 in a report on Wednesday, December 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 target price on shares of GlobalFoundries in a report on Monday, October 27th. Finally, Zacks Research raised shares of GlobalFoundries from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.23.

About GlobalFoundries

GlobalFoundries, Inc (NASDAQ: GFS) is a leading contract semiconductor manufacturer that provides wafer fabrication and related services to semiconductor companies and systems manufacturers. The company operates as a pure-play foundry, producing integrated circuits across a range of process technologies for customers in markets such as automotive, communications, consumer electronics, industrial, and aerospace. Its service offering spans process development, manufacturing, test and packaging support, and design enablement including process design kits (PDKs) and intellectual property (IP) libraries to help customers bring designs to production.

GlobalFoundries focuses on a portfolio of differentiated and specialty process nodes, offering technologies for radio-frequency (RF) and wireless, analog and mixed-signal, power management, embedded non-volatile memory, and silicon-on-insulator (SOI) process families.