ING Groep NV Has $579,000 Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

ING Groep NV cut its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 64.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,502 shares of the company’s stock after selling 25,005 shares during the quarter. ING Groep NV’s holdings in GlobalFoundries were worth $579,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in GlobalFoundries by 2.4% in the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after purchasing an additional 1,160,403 shares during the period. State Street Corp increased its holdings in GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after purchasing an additional 98,084 shares during the period. Citigroup Inc. increased its holdings in GlobalFoundries by 16.0% in the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after purchasing an additional 86,740 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in GlobalFoundries by 16.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company’s stock valued at $8,633,000 after purchasing an additional 29,785 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in GlobalFoundries in the third quarter valued at $8,361,000.

Analyst Upgrades and Downgrades

GFS has been the subject of a number of recent research reports. Susquehanna decreased their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, Evercore ISI decreased their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Price Performance

GFS stock opened at $41.52 on Tuesday. The stock has a market capitalization of $22.91 billion, a PE ratio of -86.50, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. The company’s 50-day moving average is $42.28 and its 200-day moving average is $42.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Equities research analysts expect that GlobalFoundries Inc. will post 1.31 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.