Fmr LLC Grows Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Fmr LLC grew its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,375,403 shares of the company’s stock after buying an additional 1,160,403 shares during the period. Fmr LLC owned 8.95% of GlobalFoundries worth $1,987,360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Marshall Wace LLP boosted its stake in shares of GlobalFoundries by 108.6% during the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock valued at $126,242,000 after purchasing an additional 1,299,687 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of GlobalFoundries by 267.7% during the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock valued at $17,901,000 after purchasing an additional 257,749 shares in the last quarter. Ghisallo Capital Management LLC grew its stake in GlobalFoundries by 200.0% in the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock worth $15,168,000 after purchasing an additional 200,000 shares during the period. International Assets Investment Management LLC raised its holdings in GlobalFoundries by 2,162.6% in the third quarter. International Assets Investment Management LLC now owns 158,384 shares of the company’s stock worth $63,750,000 after purchasing an additional 151,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in GlobalFoundries by 128.5% during the second quarter. Canada Pension Plan Investment Board now owns 235,049 shares of the company’s stock valued at $11,884,000 after buying an additional 132,170 shares during the period.

GlobalFoundries Trading Down 1.9 %

NASDAQ:GFS opened at $44.11 on Wednesday. The company has a 50 day simple moving average of $40.57 and a two-hundred day simple moving average of $45.96. The company has a market cap of $24.34 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 10.98 and a beta of 1.53. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a 12 month low of $35.85 and a 12 month high of $62.61.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data 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 net margin of 10.95% and a return on equity of 6.87%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Research analysts forecast that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on GFS shares. TD Cowen dropped their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI dropped their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Susquehanna lowered their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, UBS Group started coverage on GlobalFoundries in a research note on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.21.

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.