Mirae Asset Global Investments Co. Ltd. Acquires 79,670 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 907,446 shares of the company's stock after acquiring an additional 79,670 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.16% of GlobalFoundries worth $33,476,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its position 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 worth $1,855,000 after purchasing an additional 280 shares in the last quarter. Signaturefd LLC grew its holdings in shares of 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 in the last quarter. Mariner LLC increased its position in shares of GlobalFoundries by 5.5% in the fourth 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 last quarter. American Century Companies Inc. raised its holdings in 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 boosted its position in GlobalFoundries by 7.5% during the fourth quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock valued at $287,000 after purchasing an additional 468 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Argus began coverage on GlobalFoundries in a research report on Tuesday. They set a "buy" rating and a $52.00 price target on the stock. Citigroup lowered their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. UBS Group dropped their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Finally, Morgan Stanley lowered their price objective on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.50.

GlobalFoundries Stock Performance

NASDAQ GFS traded down $0.16 on Wednesday, reaching $39.28. The stock had a trading volume of 927,373 shares, compared to its average volume of 1,821,185. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.77. The company has a market cap of $21.72 billion, a P/E ratio of -115.67, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The firm has a fifty day moving average of $37.25 and a two-hundred day moving average of $38.73. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. GlobalFoundries had a negative net margin of 2.77% and a positive return on equity of 6.28%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, equities research analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current year.

GlobalFoundries Company 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.