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

Fmr LLC grew its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,096,556 shares of the company’s stock after purchasing an additional 3,721,153 shares during the quarter. Fmr LLC owned approximately 0.10% of GlobalFoundries worth $2,278,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GFS. State Street Corp raised its position in GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after purchasing an additional 98,084 shares during the period. Geode Capital Management LLC grew its stake in shares of GlobalFoundries by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company’s stock valued at $39,176,000 after buying an additional 16,921 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of GlobalFoundries by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 262,872 shares of the company’s stock valued at $11,280,000 after buying an additional 48,380 shares during the period. Amundi lifted its position in GlobalFoundries by 5.5% during the 4th quarter. Amundi now owns 144,442 shares of the company’s stock worth $6,012,000 after acquiring an additional 7,481 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in GlobalFoundries by 381.9% in 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 period.

Wall Street Analysts Forecast Growth

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

GlobalFoundries Price Performance

Shares of NASDAQ GFS opened at $31.54 on Friday. 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 company has a market capitalization of $17.44 billion, a price-to-earnings ratio of -65.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a twelve month low of $31.50 and a twelve month high of $61.98. The business has a 50 day simple moving average of $39.52 and a 200-day simple moving average of $41.00.

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

GlobalFoundries 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.