Public Employees Retirement System of Ohio Sells 1,698 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Public Employees Retirement System of Ohio cut its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,276 shares of the company’s stock after selling 1,698 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in GlobalFoundries were worth $1,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in GlobalFoundries during the 3rd quarter worth about $34,000. US Bancorp DE raised its holdings in shares of 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 purchasing an additional 530 shares during the period. AM Squared Ltd bought a new stake in shares of GlobalFoundries in the 3rd quarter valued at about $60,000. Advisors Asset Management Inc. raised its holdings in shares of GlobalFoundries by 41.0% in the 3rd 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 during the period. Finally, Truvestments Capital LLC bought a new stake in shares of GlobalFoundries in the 3rd quarter valued at about $66,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GFS shares. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Evercore ISI dropped their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Susquehanna lowered their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird lowered their price target on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup lowered their price target 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 issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.21.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $42.39 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 10.71 and a beta of 1.59. The firm’s 50 day simple moving average is $42.03 and its 200 day simple moving average is $45.03. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $62.61.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (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 firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. As a group, research analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share 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.