Renaissance Technologies LLC acquired a new stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,400 shares of the company's stock, valued at approximately $1,004,000.
A number of other large investors have also recently added to or reduced their stakes in GFS. FMR LLC grew its stake in GlobalFoundries by 7.5% in the 4th 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. Invesco Ltd. boosted its stake in shares of GlobalFoundries by 10.5% during the 4th quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock worth $100,058,000 after purchasing an additional 221,731 shares during the last quarter. Shade Tree Advisors LLC acquired a new stake in shares of GlobalFoundries during the 4th quarter worth about $5,096,000. Norges Bank acquired a new stake in shares of GlobalFoundries during the 4th quarter worth about $4,672,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of GlobalFoundries by 381.9% during the 4th quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company's stock worth $5,847,000 after purchasing an additional 107,994 shares during the last quarter.
GlobalFoundries Trading Up 1.2 %
NASDAQ GFS opened at $35.07 on Thursday. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The company's 50 day moving average price is $36.12 and its 200 day moving average price is $40.09. 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 firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of -73.06, a PEG ratio of 1.42 and a beta of 1.54.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results 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%. On average, sell-side analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.
Analyst Ratings Changes
Several research firms have issued reports on GFS. Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group decreased their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Citigroup decreased their price target on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.23.
Get Our Latest Stock Analysis on GlobalFoundries
GlobalFoundries Company Profile
(
Free Report)
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.
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