Signaturefd LLC Raises Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Signaturefd LLC raised its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 153.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 678 shares of the company’s stock after buying an additional 411 shares during the quarter. Signaturefd LLC’s holdings in GlobalFoundries were worth $29,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in GlobalFoundries by 41.0% during the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after acquiring an additional 463 shares in the last quarter. Intech Investment Management LLC grew its position in shares of GlobalFoundries by 33.1% during the 3rd quarter. Intech Investment Management LLC now owns 8,656 shares of the company’s stock valued at $348,000 after purchasing an additional 2,155 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $8,633,000 after purchasing an additional 29,785 shares in the last quarter. Citigroup Inc. raised its position in shares of GlobalFoundries by 16.0% in the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after buying an additional 86,740 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in GlobalFoundries by 11.9% during the third quarter. Daiwa Securities Group Inc. now owns 35,292 shares of the company’s stock valued at $1,421,000 after buying an additional 3,744 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GFS. UBS Group decreased their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Morgan Stanley upped their price objective 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. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, February 12th. Seven 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 presently has an average rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Stock Performance

GlobalFoundries stock opened at $39.01 on Wednesday. The firm has a fifty day simple moving average of $40.47 and a two-hundred day simple moving average of $41.22. 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 twelve month low of $35.85 and a twelve month high of $61.98. The company has a market capitalization of $21.52 billion, a PE ratio of -81.27, a P/E/G ratio of 1.42 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. Research analysts expect that GlobalFoundries Inc. will post 1.31 EPS 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.