SBI Securities Co. Ltd. Buys New Stake in GlobalFoundries Inc. (NASDAQ:GFS)

SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,219 shares of the company’s stock, valued at approximately $52,000.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after purchasing an additional 1,160,403 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of GlobalFoundries in the third quarter valued at $8,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of GlobalFoundries by 1,935.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock valued at $5,120,000 after buying an additional 120,960 shares during the last quarter. Shade Tree Advisors LLC acquired a new position in GlobalFoundries during the 4th quarter worth about $5,096,000. Finally, Handelsbanken Fonder AB grew its holdings in GlobalFoundries by 381.9% during the 4th quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company’s stock worth $5,847,000 after acquiring an additional 107,994 shares during the last quarter.

Wall Street Analyst Weigh In

GFS has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, February 12th. Morgan Stanley increased their price objective on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, GlobalFoundries currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Stock Performance

Shares of NASDAQ:GFS opened at $39.74 on Tuesday. The firm’s 50 day simple moving average is $41.37 and its 200 day simple moving average is $41.71. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The company has a market capitalization of $21.93 billion, a price-to-earnings ratio of -82.79, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, sell-side analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

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.