GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Ethic Inc.

Ethic Inc. grew its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,854 shares of the company's stock after buying an additional 7,349 shares during the quarter. Ethic Inc.'s holdings in GlobalFoundries were worth $1,539,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in GlobalFoundries during the 4th quarter worth about $52,000. SG Americas Securities LLC acquired a new stake in GlobalFoundries in the 4th quarter worth about $1,748,000. US Bancorp DE boosted its stake in GlobalFoundries by 187.2% in the 4th quarter. US Bancorp DE now owns 3,498 shares of the company's stock worth $150,000 after buying an additional 2,280 shares during the last quarter. Geode Capital Management LLC boosted its stake in GlobalFoundries by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after buying an additional 16,921 shares during the last quarter. Finally, Polianta Ltd acquired a new stake in GlobalFoundries in the 4th quarter worth about $1,317,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GFS. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Citigroup reduced their price target on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Morgan Stanley dropped their price objective on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. UBS Group dropped their price objective on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, GlobalFoundries currently has an average rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Price Performance

GFS stock remained flat at $39.54 during trading on Friday. The company's stock had a trading volume of 1,391,550 shares, compared to its average volume of 1,874,650. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The stock has a market capitalization of $21.86 billion, a price-to-earnings ratio of -82.37, a PEG ratio of 1.42 and a beta of 1.54. The company has a fifty day simple moving average of $35.72 and a two-hundred day simple moving average of $39.90. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that GlobalFoundries Inc. will post 1.31 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.