Teza Capital Management LLC Raises Stock Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Teza Capital Management LLC lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,186 shares of the company's stock after purchasing an additional 16,141 shares during the quarter. Teza Capital Management LLC's holdings in GlobalFoundries were worth $2,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in GlobalFoundries by 7.5% during the 4th quarter. FMR LLC now owns 53,096,556 shares of the company's stock valued at $2,278,373,000 after purchasing an additional 3,721,153 shares during the last quarter. First Trust Advisors LP boosted its position in shares of GlobalFoundries by 1.3% during the fourth quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock valued at $133,806,000 after buying an additional 40,527 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of GlobalFoundries by 5.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock valued at $106,124,000 after buying an additional 132,634 shares during the last quarter. Invesco Ltd. grew its stake in shares of GlobalFoundries by 10.5% during the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock valued at $100,058,000 after buying an additional 221,731 shares during the last quarter. Finally, Analog Century Management LP purchased a new stake in shares of GlobalFoundries in the fourth quarter worth approximately $50,298,000.

GlobalFoundries Stock Down 2.7%

Shares of GFS stock traded down $1.01 on Friday, hitting $36.47. The stock had a trading volume of 415,957 shares, compared to its average volume of 1,870,662. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The business has a 50 day moving average price of $35.79 and a 200 day moving average price of $39.90. The company has a market cap of $20.16 billion, a PE ratio of -75.87, a P/E/G ratio of 1.42 and a beta of 1.54. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating 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 business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GFS. Cantor Fitzgerald restated a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Wedbush reissued an "outperform" rating and set a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Morgan Stanley cut their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Wednesday, February 12th. Finally, Citigroup dropped their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.09.

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.