Crestline Management LP Grows Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Crestline Management LP raised its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 141.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 24,928 shares of the company's stock after acquiring an additional 14,589 shares during the period. Crestline Management LP's holdings in GlobalFoundries were worth $1,070,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Sanibel Captiva Trust Company Inc. raised its position in GlobalFoundries by 14.5% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company's stock valued at $406,000 after buying an additional 1,200 shares during the last quarter. Polianta Ltd purchased a new position in GlobalFoundries during the fourth quarter worth about $1,317,000. SG Americas Securities LLC bought a new stake in GlobalFoundries in the 4th quarter worth about $1,748,000. Blue Trust Inc. increased its stake in GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after buying an additional 745 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of GlobalFoundries in the fourth quarter valued at approximately $338,000.

Wall Street Analyst Weigh In

GFS has been the subject of a number of recent analyst reports. 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 note on Tuesday, April 29th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. Wedbush reissued an "outperform" rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Citigroup lowered their target price on 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 seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.33.

GlobalFoundries Price Performance

GFS traded up $0.45 during trading on Friday, reaching $36.39. 991,530 shares of the company were exchanged, compared to its average volume of 1,862,785. GlobalFoundries Inc. has a 12-month low of $29.77 and a 12-month high of $61.98. The company's 50-day moving average is $35.64 and its two-hundred day moving average is $39.88. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $20.12 billion, a price-to-earnings ratio of -75.81, 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 results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.58 billion. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The company's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

About GlobalFoundries

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.