Deutsche Bank AG Boosts Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Deutsche Bank AG raised its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 42.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 659,647 shares of the company's stock after purchasing an additional 196,290 shares during the period. Deutsche Bank AG owned 0.12% of GlobalFoundries worth $28,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in GlobalFoundries in the fourth quarter worth $52,000. SG Americas Securities LLC purchased a new stake in GlobalFoundries in the 4th quarter worth about $1,748,000. US Bancorp DE lifted its stake in GlobalFoundries by 187.2% in the fourth quarter. US Bancorp DE now owns 3,498 shares of the company's stock worth $150,000 after purchasing an additional 2,280 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GlobalFoundries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock valued at $39,176,000 after buying an additional 16,921 shares during the period. Finally, Polianta Ltd bought a new position in shares of GlobalFoundries during the fourth quarter valued at approximately $1,317,000.

Wall Street Analyst Weigh In

GFS has been the subject of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Citigroup lowered their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. UBS Group reduced their target price on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Stock Performance

Shares of GFS traded down $0.55 during trading hours on Monday, reaching $39.00. 89,805 shares of the company traded hands, compared to its average volume of 2,189,262. The stock has a market cap of $21.56 billion, a P/E ratio of -81.24, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The stock's fifty day moving average is $35.72 and its 200 day moving average is $39.90. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The business's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Equities research analysts anticipate 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.