Handelsbanken Fonder AB Boosts Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Handelsbanken Fonder AB increased its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 381.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,270 shares of the company’s stock after purchasing an additional 107,994 shares during the period. Handelsbanken Fonder AB’s holdings in GlobalFoundries were worth $5,847,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GFS. Allspring Global Investments Holdings LLC purchased a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $34,000. Blue Trust Inc. raised its holdings in shares of GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares in the last quarter. US Bancorp DE raised its holdings in shares of GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock worth $49,000 after acquiring an additional 530 shares in the last quarter. AM Squared Ltd purchased a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $60,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares in the last quarter.

Analyst Upgrades and Downgrades

GFS has been the topic of several analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday, November 6th. Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Susquehanna cut their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup cut their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $42.43 on Friday. The stock’s fifty day moving average is $42.33 and its two-hundred day moving average is $42.15. The company has a market capitalization of $23.41 billion, a PE ratio of -88.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $61.98.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly 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, 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.