GF Fund Management CO. LTD. Invests $4.49 Million in GlobalFoundries Inc. (NASDAQ:GFS)

GF Fund Management CO. LTD. purchased a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 104,740 shares of the company’s stock, valued at approximately $4,494,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in GlobalFoundries during the fourth quarter worth approximately $52,000. SG Americas Securities LLC acquired a new position in shares of GlobalFoundries during the 4th quarter valued at $1,748,000. US Bancorp DE raised its stake in shares of GlobalFoundries by 187.2% in the 4th quarter. US Bancorp DE now owns 3,498 shares of the company’s stock worth $150,000 after buying an additional 2,280 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of GlobalFoundries by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company’s stock valued at $39,176,000 after buying an additional 16,921 shares during the period. Finally, Sei Investments Co. boosted its stake in 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 buying an additional 667 shares in the last quarter.

GlobalFoundries Price Performance

Shares of NASDAQ:GFS opened at $36.55 on Friday. The company’s fifty day moving average is $35.75 and its two-hundred day moving average is $39.82. The company has a market cap of $20.21 billion, a P/E ratio of -76.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a 12-month low of $29.77 and a 12-month high of $61.98. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. GlobalFoundries’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of GlobalFoundries in a research note on Monday, May 5th. Morgan Stanley dropped their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Citigroup reduced their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, UBS Group decreased their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, GlobalFoundries presently has an average rating of “Moderate Buy” and an average price target of $47.09.

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.