Geode Capital Management LLC Has $39.18 Million Position in GlobalFoundries Inc. (NASDAQ:GFS)

Geode Capital Management LLC grew its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 912,986 shares of the company's stock after buying an additional 16,921 shares during the quarter. Geode Capital Management LLC owned 0.17% of GlobalFoundries worth $39,176,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Shade Tree Advisors LLC bought a new stake in shares of GlobalFoundries in the 4th quarter worth $5,096,000. Norges Bank bought a new stake in GlobalFoundries during the fourth quarter worth approximately $4,672,000. Handelsbanken Fonder AB grew its position in GlobalFoundries by 381.9% in the fourth quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company's stock worth $5,847,000 after buying an additional 107,994 shares during the last quarter. State Street Corp increased its holdings in shares of GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company's stock valued at $51,341,000 after buying an additional 98,084 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of GlobalFoundries by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 262,872 shares of the company's stock worth $11,280,000 after acquiring an additional 48,380 shares during the last quarter.

GlobalFoundries Stock Performance

Shares of NASDAQ GFS traded up $0.08 during trading hours on Friday, hitting $31.70. 1,605,556 shares of the company's stock were exchanged, compared to its average volume of 1,852,317. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of -66.04, a PEG ratio of 1.42 and a beta of 1.54. The company's 50-day moving average price is $37.72 and its 200-day moving average price is $40.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. 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%. On average, sell-side analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GFS shares. Citigroup decreased their price target on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. 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. UBS Group reduced their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.85.

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.