GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 308,042 shares of the company's stock after purchasing an additional 10,236 shares during the period. Rafferty Asset Management LLC owned about 0.06% of GlobalFoundries worth $13,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in shares of GlobalFoundries in the fourth quarter worth about $52,000. SG Americas Securities LLC bought a new stake in GlobalFoundries during the fourth quarter worth approximately $1,748,000. US Bancorp DE increased its stake in GlobalFoundries by 187.2% during the fourth quarter. US Bancorp DE now owns 3,498 shares of the company's stock worth $150,000 after acquiring an additional 2,280 shares during the last quarter. Geode Capital Management LLC increased its stake in GlobalFoundries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after acquiring an additional 16,921 shares during the last quarter. Finally, Polianta Ltd bought a new stake in GlobalFoundries during the fourth quarter worth approximately $1,317,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup reduced their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Wednesday, February 12th. Finally, Morgan Stanley cut their target price on 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Stock Down 0.0%

Shares of NASDAQ:GFS traded down $0.01 during trading on Tuesday, reaching $39.12. The stock had a trading volume of 1,310,737 shares, compared to its average volume of 1,871,827. The firm's 50-day simple moving average is $35.82 and its 200 day simple moving average is $39.91. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The company has a market capitalization of $21.63 billion, a P/E ratio of -81.50, a PEG ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its 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 company 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 3.93% and a positive return on equity of 6.05%. GlobalFoundries's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. As a group, research analysts expect that GlobalFoundries Inc. will post 1.31 EPS 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.