Kentucky Retirement Systems Buys Shares of 6,711 GlobalFoundries Inc. (NASDAQ:GFS)

Kentucky Retirement Systems acquired a new stake in GlobalFoundries Inc. (NASDAQ:GFS) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,711 shares of the company’s stock, valued at approximately $248,000.

Several other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of GlobalFoundries in the fourth quarter valued at $52,000. US Bancorp DE raised its position in GlobalFoundries by 187.2% in the 4th quarter. US Bancorp DE now owns 3,498 shares of the company’s stock valued at $150,000 after buying an additional 2,280 shares during the last quarter. Geode Capital Management LLC lifted its stake in GlobalFoundries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company’s stock valued at $39,176,000 after acquiring an additional 16,921 shares in the last quarter. Sei Investments Co. grew its stake in shares of GlobalFoundries by 7.6% in the 4th quarter. Sei Investments Co. now owns 9,495 shares of the company’s stock worth $407,000 after acquiring an additional 667 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of GlobalFoundries by 7.5% in the fourth quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after purchasing an additional 468 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $38.57 on Thursday. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of -113.44, a PEG ratio of 1.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.77. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $61.98. The firm’s 50-day moving average is $36.68 and its 200 day moving average is $38.92.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.28% and a negative net margin of 2.77%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.31 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal 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.