Canada Pension Plan Investment Board lifted its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,209 shares of the company's stock after acquiring an additional 8,351 shares during the quarter. Canada Pension Plan Investment Board's holdings in GlobalFoundries were worth $8,205,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in GFS. Sanctuary Advisors LLC acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $689,000. Tidal Investments LLC grew its stake in GlobalFoundries by 439.3% during the 3rd quarter. Tidal Investments LLC now owns 32,318 shares of the company's stock worth $1,301,000 after buying an additional 26,325 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its position in GlobalFoundries by 14.5% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company's stock worth $406,000 after buying an additional 1,200 shares during the period. Polianta Ltd bought a new stake in GlobalFoundries in the fourth quarter valued at $1,317,000. Finally, SG Americas Securities LLC acquired a new position in shares of GlobalFoundries during the fourth quarter valued at $1,748,000.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on GFS shares. Morgan Stanley lifted 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. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Wednesday, February 12th. Citigroup decreased their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, UBS Group cut their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.85.
Read Our Latest Stock Analysis on GFS
GlobalFoundries Stock Up 0.7 %
Shares of GFS traded up $0.25 during mid-day trading on Friday, reaching $35.29. The company's stock had a trading volume of 1,428,602 shares, compared to its average volume of 1,861,623. The company has a market cap of $19.51 billion, a price-to-earnings ratio of -73.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The business has a fifty day moving average of $36.68 and a 200 day moving average of $40.20. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $61.98.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. As a group, analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.
GlobalFoundries Company Profile
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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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