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

Nissay Asset Management Corp Japan ADV grew its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,741 shares of the company's stock after acquiring an additional 10,902 shares during the quarter. 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 also recently modified their holdings of the business. Signaturefd LLC lifted its position in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after purchasing an additional 411 shares during the period. Blue Trust Inc. raised its stake in GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after acquiring an additional 745 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries during the fourth quarter worth about $52,000. Graney & King LLC acquired a new position in GlobalFoundries during the fourth quarter worth about $68,000. Finally, Covestor Ltd raised its stake in GlobalFoundries by 309.8% during the fourth quarter. Covestor Ltd now owns 1,680 shares of the company's stock worth $72,000 after acquiring an additional 1,270 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Wednesday, February 12th. Wedbush reissued an "outperform" rating and set a $60.00 target price 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. Citigroup lowered 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. Finally, UBS Group lowered their target price 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, GlobalFoundries has an average rating of "Moderate Buy" and a consensus price target of $47.09.

GlobalFoundries Trading Down 1.0%

GFS stock traded down $0.41 during trading on Monday, hitting $39.13. The company had a trading volume of 1,012,000 shares, compared to its average volume of 1,871,199. The business has a 50-day moving average of $35.77 and a 200-day moving average of $39.91. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The stock has a market cap of $21.64 billion, a PE ratio of -81.52, a PEG ratio of 1.42 and a beta of 1.54. 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 (NASDAQ:GFS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. Research analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share 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.