Geode Capital Management LLC Purchases 16,921 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Geode Capital Management LLC increased its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 912,986 shares of the company's stock after buying an additional 16,921 shares during the period. Geode Capital Management LLC owned about 0.17% of GlobalFoundries worth $39,176,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries in the fourth quarter worth $52,000. SG Americas Securities LLC bought a new stake in GlobalFoundries in the 4th quarter valued at $1,748,000. US Bancorp DE lifted 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 purchasing an additional 2,280 shares in the last quarter. Polianta Ltd bought a new position in shares of GlobalFoundries during the 4th quarter valued at about $1,317,000. Finally, Sei Investments Co. grew its position in shares of GlobalFoundries by 7.6% during the fourth quarter. Sei Investments Co. now owns 9,495 shares of the company's stock valued at $407,000 after purchasing an additional 667 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Wednesday, February 12th. Citigroup decreased their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. UBS Group lowered their target price on GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Wedbush restated an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Six investment 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, GlobalFoundries currently has a consensus rating of "Moderate Buy" and an average price target of $48.85.

GlobalFoundries Trading Up 0.3 %

Shares of GFS traded up $0.08 during mid-day trading on Friday, reaching $31.70. 1,605,556 shares of the company's stock traded hands, compared to its average volume of 1,851,013. 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 stock's 50-day moving average is $37.72 and its two-hundred day moving average is $40.43. GlobalFoundries Inc. has a 12 month low of $29.77 and a 12 month high of $61.98. The stock has a market cap of $17.53 billion, a P/E ratio of -66.04, a P/E/G ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal 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.