Rafferty Asset Management LLC Buys 10,236 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Rafferty Asset Management LLC lifted its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,042 shares of the company's stock after acquiring an additional 10,236 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.06% of GlobalFoundries worth $13,218,000 at the end of the most recent reporting period.

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

GlobalFoundries Stock Performance

Shares of GFS traded down $0.03 during trading hours on Thursday, hitting $37.72. The company's stock had a trading volume of 297,893 shares, compared to its average volume of 1,868,124. The business has a 50 day simple moving average of $35.82 and a two-hundred day simple moving average of $39.89. GlobalFoundries Inc. has a 52-week low of $29.77 and a 52-week high of $61.98. 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 company has a market cap of $20.85 billion, a price-to-earnings ratio of -78.73, a PEG ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data 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. 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 period in the previous year, the business earned $0.31 EPS. GlobalFoundries's revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group dropped their price target on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. 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. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. 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, Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.