Analog Century Management LP Takes $50.30 Million Position in GlobalFoundries Inc. (NASDAQ:GFS)

Analog Century Management LP bought a new position in GlobalFoundries Inc. (NASDAQ:GFS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,172,167 shares of the company’s stock, valued at approximately $50,298,000. GlobalFoundries accounts for about 3.4% of Analog Century Management LP’s holdings, making the stock its 18th largest holding. Analog Century Management LP owned about 0.21% of GlobalFoundries as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 411 shares during the period. Blue Trust Inc. grew its stake in GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after purchasing an additional 745 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries in the 4th quarter worth about $52,000. Graney & King LLC acquired a new stake in shares of GlobalFoundries during the 4th quarter valued at about $68,000. Finally, Covestor Ltd grew its stake in shares of GlobalFoundries by 309.8% in the 4th quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after buying an additional 1,270 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GFS shares. Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report 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 target for the company in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group decreased their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, Citigroup dropped their price target on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.85.

GlobalFoundries Stock Performance

Shares of NASDAQ GFS opened at $33.13 on Thursday. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $37.06 and a 200 day simple moving average of $40.26. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of -69.01, a PEG ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Sell-side analysts expect that GlobalFoundries Inc. will post 1.31 EPS 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.