Norinchukin Bank The Makes New $229,000 Investment in GlobalFoundries Inc. (NASDAQ:GFS)

Norinchukin Bank The acquired a new stake in GlobalFoundries Inc. (NASDAQ:GFS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,342 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in GlobalFoundries in the 3rd quarter valued at $689,000. Tidal Investments LLC raised its position in shares of GlobalFoundries by 439.3% in the third quarter. Tidal Investments LLC now owns 32,318 shares of the company’s stock valued at $1,301,000 after purchasing an additional 26,325 shares during the period. Sanibel Captiva Trust Company Inc. raised its position in shares of GlobalFoundries by 14.5% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company’s stock valued at $406,000 after purchasing an additional 1,200 shares during the period. Polianta Ltd bought a new stake in shares of GlobalFoundries during the 4th quarter worth about $1,317,000. Finally, SG Americas Securities LLC acquired a new position in GlobalFoundries in the 4th quarter valued at about $1,748,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GFS shares. Citigroup cut their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 12th. UBS Group reduced their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.85.

GlobalFoundries Stock Up 1.1 %

Shares of GFS opened at $31.71 on Wednesday. The firm has a 50 day simple moving average of $37.26 and a two-hundred day simple moving average of $40.31. The company has a market cap of $17.53 billion, a P/E ratio of -66.06, a P/E/G ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a one year low of $29.77 and a one year high of $61.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share 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 forecast 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.