Healthcare of Ontario Pension Plan Trust Fund Purchases 53,509 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in GlobalFoundries Inc. (NASDAQ:GFS) by 104.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,852 shares of the company’s stock after acquiring an additional 53,509 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in GlobalFoundries were worth $4,220,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in GlobalFoundries in the third quarter worth about $34,000. Massmutual Trust Co. FSB ADV bought a new stake in shares of GlobalFoundries during the 2nd quarter worth approximately $59,000. US Bancorp DE boosted its holdings in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after acquiring an additional 530 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in GlobalFoundries in the 2nd quarter valued at $65,000. Finally, CWM LLC increased its stake in GlobalFoundries by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after purchasing an additional 373 shares during the period.

Wall Street Analysts Forecast Growth

GFS has been the subject of a number of recent analyst reports. UBS Group began coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price for the company. Evercore ISI reduced their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird lowered their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $60.00 price objective (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Finally, TD Cowen lowered their target price on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.21.

GlobalFoundries Stock Up 0.9 %

Shares of GlobalFoundries stock opened at $43.25 on Friday. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $62.61. The firm’s 50 day moving average price is $40.86 and its 200-day moving average price is $45.74. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The company has a market cap of $23.86 billion, a P/E ratio of 32.28, a PEG ratio of 10.46 and a beta of 1.53.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, sell-side analysts predict that GlobalFoundries Inc. will post 1.22 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.