Handelsbanken Fonder AB Has $1.14 Million Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

Handelsbanken Fonder AB lifted its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 44.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,276 shares of the company’s stock after acquiring an additional 8,765 shares during the quarter. Handelsbanken Fonder AB’s holdings in GlobalFoundries were worth $1,138,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV acquired a new stake in GlobalFoundries during the 2nd quarter worth $59,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GlobalFoundries during the second quarter worth $65,000. CWM LLC increased its holdings in GlobalFoundries by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares during the last quarter. Lazard Asset Management LLC lifted its stake in GlobalFoundries by 47.3% in the first quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after buying an additional 786 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in GlobalFoundries by 128.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock worth $129,000 after buying an additional 1,391 shares during the last quarter.

GlobalFoundries Stock Up 1.3 %

NASDAQ:GFS opened at $40.85 on Friday. The stock has a 50-day simple moving average of $42.17 and a 200 day simple moving average of $47.83. GlobalFoundries Inc. has a 52-week low of $38.45 and a 52-week high of $62.61. The company has a market cap of $22.54 billion, a PE ratio of 25.22, a PEG ratio of 6.45 and a beta of 1.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22.

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

Analyst Ratings Changes

GFS has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. 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 lowered their price objective on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.38.

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.