Norges Bank acquired a new position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 108,889 shares of the company's stock, valued at approximately $4,672,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 411 shares during the last quarter. American Century Companies Inc. boosted its stake in GlobalFoundries by 1.7% in the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company's stock worth $1,113,000 after purchasing an additional 438 shares during the period. Private Advisor Group LLC grew its stake in GlobalFoundries by 7.5% during the fourth quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock valued at $287,000 after acquiring an additional 468 shares in the last quarter. Sei Investments Co. grew its position in shares of GlobalFoundries by 7.6% during the fourth quarter. Sei Investments Co. now owns 9,495 shares of the company's stock valued at $407,000 after purchasing an additional 667 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after buying an additional 745 shares in the last quarter.
GlobalFoundries Price Performance
Shares of GlobalFoundries stock traded down $0.09 on Tuesday, hitting $33.57. 119,425 shares of the company were exchanged, compared to its average volume of 2,355,403. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $38.25 and a 200 day moving average price of $40.63. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of -69.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. 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 released 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%. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
GFS has been the topic of several research reports. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Wednesday, February 12th. Wedbush restated an "outperform" rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Citigroup decreased their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday. Morgan Stanley lifted 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, UBS Group decreased their price objective on GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, GlobalFoundries currently has an average rating of "Moderate Buy" and an average target price of $49.29.
Get Our Latest Report on GFS
GlobalFoundries Company 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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