Fmr LLC Raises Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Fmr LLC lifted its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,096,556 shares of the company’s stock after buying an additional 3,721,153 shares during the quarter. Fmr LLC owned 9.62% of GlobalFoundries worth $2,278,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of GlobalFoundries during the 4th quarter worth $52,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in GlobalFoundries by 1,935.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after buying an additional 120,960 shares in the last quarter. SG Americas Securities LLC purchased a new stake in GlobalFoundries during the fourth quarter worth about $1,748,000. US Bancorp DE grew its position in GlobalFoundries by 187.2% during the fourth quarter. US Bancorp DE now owns 3,498 shares of the company’s stock worth $150,000 after buying an additional 2,280 shares during the period. Finally, Polianta Ltd purchased a new position in GlobalFoundries in the fourth quarter valued at about $1,317,000.

GlobalFoundries Trading Down 8.2 %

Shares of GFS opened at $31.54 on Friday. GlobalFoundries Inc. has a fifty-two week low of $31.50 and a fifty-two week high of $61.98. The company has a market capitalization of $17.44 billion, a PE ratio of -65.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The stock has a fifty day moving average of $39.52 and a two-hundred day moving average of $41.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

GlobalFoundries (NASDAQ:GFS) last released its 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%. As a group, analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

GFS has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. UBS Group dropped their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley boosted 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. Finally, Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.64.

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.