GF Fund Management CO. LTD. acquired a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 104,740 shares of the company's stock, valued at approximately $4,494,000.
Several other institutional investors have also recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its holdings in shares of GlobalFoundries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company's stock valued at $1,855,000 after purchasing an additional 280 shares during the period. Signaturefd LLC increased its position in shares of GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after acquiring an additional 411 shares in the last quarter. Mariner LLC increased its position in shares of GlobalFoundries by 5.5% during the fourth quarter. Mariner LLC now owns 8,111 shares of the company's stock worth $348,000 after acquiring an additional 420 shares in the last quarter. American Century Companies Inc. increased its position in shares of GlobalFoundries by 1.7% during the fourth quarter. American Century Companies Inc. now owns 25,949 shares of the company's stock worth $1,113,000 after acquiring an additional 438 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of GlobalFoundries by 7.5% during the fourth quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock worth $287,000 after acquiring an additional 468 shares in the last quarter.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Citigroup decreased their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Wedbush restated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Wednesday, February 12th. Finally, UBS Group lowered their target price on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.09.
View Our Latest Analysis on GlobalFoundries
GlobalFoundries Trading Up 0.5%
GlobalFoundries stock traded up $0.17 during trading hours on Thursday, reaching $36.91. The stock had a trading volume of 1,432,288 shares, compared to its average volume of 1,817,079. The stock has a market cap of $20.41 billion, a PE ratio of -76.89, a PEG ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The company has a fifty day simple moving average of $35.65 and a 200-day simple moving average of $39.69.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period last year, the company posted $0.31 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.
About GlobalFoundries
(
Free Report)
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.
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