GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,266 shares of the company's stock after purchasing an additional 17,143 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in GlobalFoundries were worth $4,660,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its stake in shares of GlobalFoundries by 0.7% in 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 GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after acquiring an additional 411 shares during the period. Mariner LLC increased its position in GlobalFoundries by 5.5% in the 4th quarter. Mariner LLC now owns 8,111 shares of the company's stock valued at $348,000 after acquiring an additional 420 shares during the period. American Century Companies Inc. increased its position in GlobalFoundries by 1.7% in the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company's stock valued at $1,113,000 after acquiring an additional 438 shares during the period. Finally, X Square Capital LLC increased its holdings in shares of GlobalFoundries by 2.0% during the fourth quarter. X Square Capital LLC now owns 24,813 shares of the company's stock valued at $1,065,000 after purchasing an additional 484 shares during the period.

Wall Street Analysts Forecast Growth

GFS has been the topic of several recent research reports. Citigroup decreased their price target on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Argus started coverage on shares of GlobalFoundries in a report on Tuesday. They issued a "buy" rating and a $52.00 price objective for the company. Cantor Fitzgerald restated a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. UBS Group reduced their price objective on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Morgan Stanley cut their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, GlobalFoundries currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $39.38 on Friday. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of -115.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.50. The stock's 50-day moving average is $37.55 and its 200-day moving average is $38.67. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.77.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly 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 2.77% and a positive return on equity of 6.28%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the previous year, the firm posted $0.31 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict 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.

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