Nomura Asset Management Co. Ltd. Purchases 3,520 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Nomura Asset Management Co. Ltd. raised its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 20.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,746 shares of the company’s stock after acquiring an additional 3,520 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in GlobalFoundries were worth $835,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of GlobalFoundries during the third quarter worth $34,000. US Bancorp DE lifted its stake in GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after purchasing an additional 530 shares in the last quarter. AM Squared Ltd purchased a new stake in GlobalFoundries in the 3rd quarter worth $60,000. Advisors Asset Management Inc. boosted its holdings in shares of GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of GlobalFoundries during the third quarter valued at about $66,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GFS. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Wedbush reaffirmed 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. Susquehanna cut their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a 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 on the stock in a research note on Wednesday, November 6th. Finally, Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $43.00 in a research report on Monday, October 28th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.21.

GlobalFoundries Stock Down 0.2 %

Shares of NASDAQ GFS opened at $43.88 on Friday. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $62.61. The firm has a 50-day simple moving average of $41.81 and a two-hundred day simple moving average of $45.15. The company has a market cap of $24.21 billion, a P/E ratio of 32.75, a PEG ratio of 10.71 and a beta of 1.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

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. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.47 EPS. GlobalFoundries’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts anticipate that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

GlobalFoundries Company 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.