Greenland Capital Management LP acquired a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 158,128 shares of the company's stock, valued at approximately $6,785,000. GlobalFoundries makes up 1.1% of Greenland Capital Management LP's investment portfolio, making the stock its 25th biggest position.
Several other institutional investors have also bought and sold shares of the stock. FMR LLC raised its position in shares of GlobalFoundries by 7.5% during the 4th quarter. FMR LLC now owns 53,096,556 shares of the company's stock worth $2,278,373,000 after buying an additional 3,721,153 shares in the last quarter. Invesco Ltd. lifted its position in GlobalFoundries by 10.5% in the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock worth $100,058,000 after purchasing an additional 221,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GlobalFoundries by 1,935.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company's stock valued at $5,120,000 after purchasing an additional 120,960 shares in the last quarter. Shade Tree Advisors LLC acquired a new position in shares of GlobalFoundries during the 4th quarter valued at $5,096,000. Finally, Norges Bank bought a new stake in shares of GlobalFoundries in the 4th quarter worth $4,672,000.
GlobalFoundries Stock Down 1.4 %
Shares of GFS stock traded down $0.48 during trading on Friday, hitting $33.33. 2,537,489 shares of the company were exchanged, compared to its average volume of 1,850,977. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of -69.44, a P/E/G ratio of 1.42 and a beta of 1.54. 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 business's 50-day simple moving average is $38.39 and its 200 day simple moving average is $40.68. GlobalFoundries Inc. has a twelve month low of $29.77 and a twelve month high of $61.98.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates 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 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently weighed in on GFS. Citigroup decreased their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report 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 research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.29.
Read Our Latest Stock Report on GFS
GlobalFoundries 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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