GlobalFoundries Inc. (NASDAQ:GFS) Short Interest Update

GlobalFoundries Inc. (NASDAQ:GFS) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 14,720,000 shares, a growth of 11.1% from the November 15th total of 13,250,000 shares. Approximately 14.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,690,000 shares, the short-interest ratio is presently 8.7 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GFS. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Robert W. Baird decreased their target price on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Morgan Stanley cut shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $53.00 to $43.00 in a research note on Monday, October 28th. Finally, Susquehanna reduced their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.21.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock opened at $43.93 on Tuesday. The business’s fifty day moving average price is $41.81 and its 200 day moving average price is $45.13. GlobalFoundries has a twelve month low of $35.85 and a twelve month high of $62.61. 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 stock has a market capitalization of $24.24 billion, a P/E ratio of 32.78, a PEG ratio of 10.71 and a beta of 1.59.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.41 earnings per share for the quarter, beating 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 return on equity of 6.87% and a net margin of 10.95%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. As a group, research analysts anticipate that GlobalFoundries will post 1.22 earnings per share for the current year.

Institutional Investors Weigh In On GlobalFoundries

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of GlobalFoundries in the 3rd quarter valued at $34,000. US Bancorp DE boosted its position in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after purchasing an additional 530 shares during the period. CWM LLC increased its holdings in GlobalFoundries by 38.6% in the 2nd quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares in the last quarter. AM Squared Ltd purchased a new position in GlobalFoundries in the third quarter valued at about $60,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of GlobalFoundries by 41.0% during the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after purchasing an additional 463 shares in the last quarter.

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.