ProShare Advisors LLC Increases Stake in GlobalFoundries Inc. (NASDAQ:GFS)

ProShare Advisors LLC raised its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 637,867 shares of the company's stock after acquiring an additional 109,722 shares during the period. ProShare Advisors LLC owned approximately 0.12% of GlobalFoundries worth $27,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of GlobalFoundries by 7.5% during the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after buying an additional 3,721,153 shares during the period. Analog Century Management LP acquired a new stake in shares of GlobalFoundries during the fourth quarter worth $50,298,000. BNP Paribas Financial Markets acquired a new stake in shares of GlobalFoundries during the fourth quarter worth $22,912,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of GlobalFoundries during the fourth quarter worth $16,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of GlobalFoundries during the fourth quarter worth $11,778,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. 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. Morgan Stanley lowered 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 note on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group reduced their target price on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, GlobalFoundries currently has a consensus rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Stock Performance

GFS traded up $0.05 on Thursday, reaching $37.80. The stock had a trading volume of 265,026 shares, compared to its average volume of 1,867,996. GlobalFoundries Inc. has a 12-month low of $29.77 and a 12-month high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The business's 50-day moving average price is $35.82 and its two-hundred day moving average price is $39.89. The company has a market cap of $20.90 billion, a P/E ratio of -78.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. Sell-side analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

About GlobalFoundries

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.