Gabelli Funds LLC Invests $445,000 in GlobalFoundries Inc. (NASDAQ:GFS)

Gabelli Funds LLC purchased a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,373 shares of the company's stock, valued at approximately $445,000.

Several other institutional investors and hedge funds have also made changes to their positions in GFS. Signaturefd LLC grew its stake in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 411 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after acquiring an additional 745 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of GlobalFoundries in the 4th quarter worth about $52,000. Graney & King LLC bought a new stake in GlobalFoundries in the 4th quarter valued at about $68,000. Finally, Covestor Ltd boosted its stake in 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 purchasing an additional 1,270 shares during the period.

GlobalFoundries Trading Up 5.8 %

Shares of NASDAQ:GFS traded up $1.93 during midday trading on Thursday, reaching $35.04. The company had a trading volume of 1,524,256 shares, compared to its average volume of 1,856,533. The company has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $40.26. 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 cap of $19.37 billion, a price-to-earnings ratio of -73.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. 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 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 positive return on equity of 6.05% and a negative net margin of 3.93%. Research analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GFS. Wedbush reaffirmed an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Citigroup cut 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. Morgan Stanley increased their price target on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. Finally, UBS Group reduced their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.85.

GlobalFoundries 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.