Legal & General Group Plc Reduces Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Legal & General Group Plc lessened its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 339,699 shares of the company's stock after selling 14,188 shares during the period. Legal & General Group Plc owned about 0.06% of GlobalFoundries worth $14,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its position in GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock valued at $100,058,000 after purchasing an additional 221,731 shares during the period. FMR LLC boosted its position in GlobalFoundries by 7.5% during the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock valued at $2,278,373,000 after acquiring an additional 3,721,153 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in GlobalFoundries by 305.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,102 shares of the company's stock worth $90,000 after acquiring an additional 1,583 shares during the period. Geode Capital Management LLC raised its position 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 acquiring an additional 16,921 shares in the last quarter. Finally, X Square Capital LLC raised its position in shares of GlobalFoundries by 2.0% in the 4th quarter. X Square Capital LLC now owns 24,813 shares of the company's stock worth $1,065,000 after acquiring an additional 484 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GFS shares. Citigroup decreased their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. 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 research note on Wednesday, February 12th. UBS Group cut their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, GlobalFoundries has an average rating of "Moderate Buy" and an average target price of $48.85.

GlobalFoundries Stock Down 3.0 %

Shares of GFS stock traded down $0.94 on Monday, hitting $30.76. The stock had a trading volume of 111,194 shares, compared to its average volume of 1,844,209. 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 business has a 50 day moving average of $37.72 and a 200 day moving average of $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 $17.01 billion, a price-to-earnings ratio of -64.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted 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%. As a group, analysts expect that GlobalFoundries Inc. will post 1.31 EPS for the current 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.