Invesco Ltd. Purchases 221,731 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Invesco Ltd. increased its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,331,811 shares of the company's stock after acquiring an additional 221,731 shares during the period. Invesco Ltd. owned 0.42% of GlobalFoundries worth $100,058,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in GFS. Signaturefd LLC raised its stake in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after acquiring an additional 411 shares in the last quarter. American Century Companies Inc. increased its stake in shares of GlobalFoundries by 1.7% in the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company's stock valued at $1,113,000 after buying an additional 438 shares during the period. Private Advisor Group LLC raised its position in shares of GlobalFoundries by 7.5% during the fourth quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock worth $287,000 after acquiring an additional 468 shares during the last quarter. X Square Capital LLC lifted its stake in shares of GlobalFoundries by 2.0% during the fourth quarter. X Square Capital LLC now owns 24,813 shares of the company's stock valued at $1,065,000 after acquiring an additional 484 shares during the period. Finally, Sei Investments Co. boosted its holdings in GlobalFoundries by 7.6% in the fourth quarter. Sei Investments Co. now owns 9,495 shares of the company's stock valued at $407,000 after acquiring an additional 667 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GFS. Needham & Company LLC raised GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Wednesday, February 12th. Citigroup reduced their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. UBS Group dropped their target price 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. Morgan Stanley raised their price target on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Wedbush reiterated an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and an average target price of $48.85.

GlobalFoundries Stock Up 0.3 %

Shares of NASDAQ:GFS traded up $0.08 during trading on Friday, hitting $31.70. 1,605,556 shares of the company's stock traded hands, compared to its average volume of 1,850,569. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $37.89 and a 200-day moving average price of $40.46. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The company has a market cap of $17.53 billion, a price-to-earnings ratio of -66.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced 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 negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

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.