Handelsbanken Fonder AB Increases Position in GlobalFoundries Inc. (NASDAQ:GFS)

Handelsbanken Fonder AB grew its holdings in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 381.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,270 shares of the company's stock after acquiring an additional 107,994 shares during the period. Handelsbanken Fonder AB's holdings in GlobalFoundries were worth $5,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GFS. DekaBank Deutsche Girozentrale grew its position in shares of GlobalFoundries by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company's stock valued at $357,000 after purchasing an additional 340 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in GlobalFoundries by 41.0% during the 3rd 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 grew its holdings in shares of GlobalFoundries by 7.5% in the fourth quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock worth $287,000 after purchasing an additional 468 shares during the last quarter. Royal London Asset Management Ltd. raised its position in GlobalFoundries by 1.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company's stock valued at $1,420,000 after purchasing an additional 510 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company's stock worth $49,000 after purchasing an additional 530 shares during the period.

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Analyst Ratings Changes

A number of research analysts have recently issued reports on GFS shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of GlobalFoundries from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Wedbush reiterated an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group dropped their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Morgan Stanley boosted their price target on GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Citigroup decreased their target price on GlobalFoundries from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, GlobalFoundries presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.64.

GlobalFoundries Stock Down 0.1 %

GFS stock traded down $0.03 during trading on Wednesday, hitting $40.61. 2,112,350 shares of the company's stock were exchanged, compared to its average volume of 2,224,172. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $61.98. The business has a 50-day moving average price of $42.22 and a two-hundred day moving average price of $42.10. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of -84.60, a PEG ratio of 1.42 and a beta of 1.56.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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, equities research analysts expect that GlobalFoundries Inc. will post 1.31 EPS 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.