Shade Tree Advisors LLC acquired a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 118,750 shares of the company's stock, valued at approximately $5,096,000. GlobalFoundries accounts for approximately 5.1% of Shade Tree Advisors LLC's holdings, making the stock its 3rd largest holding.
Several other institutional investors also recently made changes to their positions in GFS. FMR LLC boosted its position in GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company's stock worth $1,987,360,000 after purchasing an additional 1,160,403 shares during the period. State Street Corp boosted its position in GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company's stock worth $51,341,000 after purchasing an additional 98,084 shares during the period. Citigroup Inc. boosted its position in GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company's stock worth $25,287,000 after purchasing an additional 86,740 shares during the period. Charles Schwab Investment Management Inc. boosted its position in GlobalFoundries by 16.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company's stock worth $8,633,000 after purchasing an additional 29,785 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in GlobalFoundries during the 3rd quarter worth $8,361,000.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Robert W. Baird decreased their price target on shares of GlobalFoundries from $63.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Evercore ISI decreased their price target on shares of GlobalFoundries from $71.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Wedbush reiterated an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Wednesday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, GlobalFoundries presently has an average rating of "Moderate Buy" and a consensus price target of $49.64.
View Our Latest Stock Report on GFS
GlobalFoundries Stock Up 0.8 %
Shares of GlobalFoundries stock traded up $0.34 during trading on Friday, reaching $43.16. The company had a trading volume of 2,212,626 shares, compared to its average volume of 1,647,492. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. The firm's fifty day moving average is $42.31 and its 200-day moving average is $42.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. On average, analysts anticipate that GlobalFoundries Inc. will post 1.22 EPS for the current year.
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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