Sumitomo Mitsui Trust Group Inc. Grows Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Sumitomo Mitsui Trust Group Inc. raised its position in GlobalFoundries Inc. (NASDAQ:GFS) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 109,123 shares of the company’s stock after buying an additional 1,321 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GlobalFoundries were worth $4,682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GFS. FMR LLC lifted its holdings in shares of GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after acquiring an additional 1,160,403 shares during the period. State Street Corp lifted its holdings in shares of GlobalFoundries by 8.3% during the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after acquiring an additional 98,084 shares during the period. Citigroup Inc. lifted its holdings in shares of GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after acquiring an additional 86,740 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of GlobalFoundries by 16.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company’s stock worth $8,633,000 after acquiring an additional 29,785 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of GlobalFoundries during the 3rd quarter worth about $8,361,000.

GlobalFoundries Stock Performance

Shares of GFS opened at $42.82 on Friday. The business’s fifty day moving average price is $42.37 and its 200 day moving average price is $42.33. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $61.98. The stock has a market capitalization of $23.63 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. Equities research analysts forecast that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GFS. Cantor Fitzgerald reiterated a “neutral” rating and set a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. Robert W. Baird lowered their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday. Citigroup lowered their price objective on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Susquehanna decreased their price target on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and a consensus price target of $50.00.

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.