GlobalFoundries Inc. (NASDAQ:GFS) Short Interest Update

GlobalFoundries Inc. (NASDAQ:GFS) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 13,340,000 shares, a drop of 9.4% from the November 30th total of 14,720,000 shares. Approximately 12.7% of the company’s shares are short sold. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is currently 7.9 days.

Wall Street Analyst Weigh In

GFS has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Morgan Stanley downgraded GlobalFoundries from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $53.00 to $43.00 in a research report on Monday, October 28th. UBS Group began coverage on shares of GlobalFoundries in a research report on Wednesday, November 20th. They set a “neutral” rating and a $47.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, Citigroup reduced their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.21.

Institutional Investors Weigh In On GlobalFoundries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in GlobalFoundries in the third quarter valued at $34,000. US Bancorp DE increased its position in GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after acquiring an additional 530 shares during the period. AM Squared Ltd acquired a new position in GlobalFoundries in the 3rd quarter valued at about $60,000. Advisors Asset Management Inc. raised its stake in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after acquiring an additional 463 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in GlobalFoundries during the 3rd quarter worth approximately $66,000.

GlobalFoundries Stock Down 0.7 %

NASDAQ GFS traded down $0.29 during trading on Wednesday, reaching $42.91. 1,019,188 shares of the company’s stock were exchanged, compared to its average volume of 1,617,984. The company has a 50 day moving average price of $42.68 and a two-hundred day moving average price of $44.67. The stock has a market cap of $23.68 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 10.71 and a beta of 1.59. GlobalFoundries has a 1 year low of $35.85 and a 1 year high of $61.98. 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 (NASDAQ:GFS) last released 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 net margin of 10.95% and a return on equity of 6.87%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts anticipate that GlobalFoundries will post 1.22 EPS 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.