Nissay Asset Management Corp Japan ADV Buys 10,902 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Nissay Asset Management Corp Japan ADV boosted its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,741 shares of the company's stock after buying an additional 10,902 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in GlobalFoundries were worth $7,720,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Treasurer of the State of North Carolina boosted its position in GlobalFoundries by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company's stock valued at $1,855,000 after purchasing an additional 280 shares during the last quarter. Signaturefd LLC increased its holdings in GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after buying an additional 411 shares during the period. Mariner LLC lifted its position in shares of GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company's stock worth $348,000 after buying an additional 420 shares during the last quarter. American Century Companies Inc. grew its stake in shares of GlobalFoundries by 1.7% during the fourth quarter. American Century Companies Inc. now owns 25,949 shares of the company's stock worth $1,113,000 after buying an additional 438 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in GlobalFoundries by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock valued at $287,000 after buying an additional 468 shares during the last quarter.

GlobalFoundries Stock Performance

Shares of NASDAQ:GFS traded down $0.21 during midday trading on Wednesday, reaching $38.91. 457,883 shares of the company's stock traded hands, compared to its average volume of 1,866,347. The stock has a 50 day moving average of $35.82 and a 200 day moving average of $39.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The company has a market cap of $21.51 billion, a price-to-earnings ratio of -81.07, a P/E/G ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The firm 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%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a report on Wednesday, February 12th. Morgan Stanley reduced their price objective on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries 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.