GlobalFoundries Inc. (NASDAQ:GFS) Sees Large Increase in Short Interest

GlobalFoundries Inc. (NASDAQ:GFS) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 13,250,000 shares, a growth of 5.1% from the October 31st total of 12,610,000 shares. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is presently 8.1 days. Currently, 12.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird decreased their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Evercore ISI reduced their price objective on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley downgraded GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $53.00 to $43.00 in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Susquehanna reduced their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, GlobalFoundries has an average rating of “Hold” and an average price target of $50.21.

GlobalFoundries Trading Down 0.6 %

Shares of NASDAQ:GFS opened at $44.38 on Thursday. GlobalFoundries has a 12-month low of $35.85 and a 12-month high of $62.61. The business’s fifty day simple moving average is $41.19 and its 200-day simple moving average is $45.54. The company has a market capitalization of $24.49 billion, a PE ratio of 33.12, a P/E/G ratio of 11.02 and a beta of 1.59. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19.

GlobalFoundries (NASDAQ:GFS) last posted 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. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. As a group, equities research analysts predict that GlobalFoundries will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of GlobalFoundries

A number of institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale boosted its position in shares of GlobalFoundries by 4.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock worth $357,000 after purchasing an additional 340 shares in the last quarter. CWM LLC boosted its position in shares of GlobalFoundries by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after purchasing an additional 373 shares in the last quarter. Pacer Advisors Inc. lifted its position in GlobalFoundries by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after acquiring an additional 444 shares during the period. Royal London Asset Management Ltd. lifted its position in GlobalFoundries by 1.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock worth $1,758,000 after acquiring an additional 450 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares during the period.

About GlobalFoundries

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.