Lombard Odier Asset Management Europe Ltd Acquires 3,005 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Lombard Odier Asset Management Europe Ltd boosted its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 16.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,938 shares of the company’s stock after purchasing an additional 3,005 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in GlobalFoundries were worth $1,059,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV bought a new position in shares of GlobalFoundries during the second quarter valued at about $59,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GlobalFoundries during the second quarter valued at about $65,000. CWM LLC raised its stake in shares of GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after acquiring an additional 373 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of GlobalFoundries by 47.3% during the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after acquiring an additional 786 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of GlobalFoundries by 128.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock valued at $129,000 after acquiring an additional 1,391 shares during the last quarter.

GlobalFoundries Trading Down 0.2 %

NASDAQ:GFS opened at $39.35 on Tuesday. The company’s 50 day moving average price is $45.75 and its 200-day moving average price is $49.02. GlobalFoundries Inc. has a 52 week low of $38.49 and a 52 week high of $62.61. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The stock has a market cap of $21.71 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 6.64 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, equities research analysts forecast that GlobalFoundries Inc. will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on GFS shares. Evercore ISI reduced their price target on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price target on shares of GlobalFoundries in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GlobalFoundries currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.54.

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.