Denali Advisors LLC Increases Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Denali Advisors LLC lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 16.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,516 shares of the company’s stock after purchasing an additional 1,216 shares during the quarter. Denali Advisors LLC’s holdings in GlobalFoundries were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GFS. FMR LLC increased its holdings in GlobalFoundries by 2.4% in the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after buying an additional 1,160,403 shares during the period. Weiss Asset Management LP acquired a new position in GlobalFoundries in the 3rd quarter worth approximately $8,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in GlobalFoundries by 1,935.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after buying an additional 120,960 shares during the period. Shade Tree Advisors LLC acquired a new position in GlobalFoundries in the 4th quarter worth approximately $5,096,000. Finally, Handelsbanken Fonder AB increased 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 buying an additional 107,994 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI dropped their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. Citigroup dropped their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. UBS Group dropped their price objective 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. Finally, Susquehanna dropped their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Trading Down 5.6 %

Shares of GFS stock opened at $38.35 on Friday. The stock’s fifty day moving average is $42.18 and its two-hundred day moving average is $42.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The firm has a market capitalization of $21.16 billion, a P/E ratio of -79.89, a PEG ratio of 1.42 and a beta of 1.56. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted 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 positive return on equity of 6.05% and a negative net margin of 3.93%. Research analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal 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.