Adage Capital Partners GP L.L.C. acquired a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 375,000 shares of the company's stock, valued at approximately $16,091,000. Adage Capital Partners GP L.L.C. owned approximately 0.07% of GlobalFoundries at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC grew its position in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 411 shares in the last quarter. Blue Trust Inc. grew its position 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 buying an additional 745 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in GlobalFoundries in the 4th quarter worth about $52,000. Graney & King LLC purchased a new stake in shares of GlobalFoundries in the 4th quarter valued at about $68,000. Finally, Covestor Ltd boosted its position in shares of GlobalFoundries by 309.8% during the 4th quarter. Covestor Ltd now owns 1,680 shares of the company's stock valued at $72,000 after acquiring an additional 1,270 shares during the last quarter.
Analyst Ratings Changes
A number of brokerages recently weighed in on GFS. Wedbush reaffirmed an "outperform" rating and issued a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Citigroup reduced their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research note on Wednesday, February 12th. Finally, UBS Group cut their price objective on GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and an average price target of $48.85.
Read Our Latest Stock Report on GFS
GlobalFoundries Stock Performance
NASDAQ:GFS opened at $35.29 on Friday. 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 Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $61.98. The firm has a market cap of $19.51 billion, a PE ratio of -73.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The business has a 50 day moving average price of $36.68 and a 200-day moving average price of $40.20.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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%. Equities research analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.
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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