Harvest Fund Management Co. Ltd Boosts Position in GlobalFoundries Inc. (NASDAQ:GFS)

Harvest Fund Management Co. Ltd boosted its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 28.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,525 shares of the company's stock after buying an additional 7,118 shares during the period. Harvest Fund Management Co. Ltd's holdings in GlobalFoundries were worth $1,396,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its stake in shares of 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 in the last quarter. Advisors Asset Management Inc. lifted its holdings in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company's stock valued at $64,000 after acquiring an additional 463 shares during the period. Private Advisor Group LLC boosted its position in shares of GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock worth $287,000 after purchasing an additional 468 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in shares of GlobalFoundries by 1.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company's stock worth $1,420,000 after purchasing an additional 510 shares in the last quarter. Finally, Wahed Invest LLC grew its stake in shares of GlobalFoundries by 37.4% during the 3rd quarter. Wahed Invest LLC now owns 2,386 shares of the company's stock worth $96,000 after purchasing an additional 650 shares during the period.

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Analysts Set New Price Targets

A number of analysts have commented on GFS shares. Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 target price on shares of GlobalFoundries in a research note 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. Finally, 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 report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.64.

GlobalFoundries Trading Up 2.8 %

Shares of GFS stock traded up $1.09 during trading hours on Monday, hitting $39.72. 3,056,311 shares of the company were exchanged, compared to its average volume of 1,716,732. The firm has a fifty day moving average of $40.54 and a 200 day moving average of $41.24. 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 $35.85 and a 1 year high of $61.98. The firm has a market cap of $21.92 billion, a PE ratio of -82.75, a PEG ratio of 1.42 and a beta of 1.57.

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 negative net margin of 3.93% and a positive return on equity of 6.05%. Analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

About GlobalFoundries

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.