GlobalFoundries Inc. (NASDAQ:GFS) Stock Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in GlobalFoundries Inc. (NASDAQ:GFS) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,046 shares of the company’s stock after buying an additional 3,517 shares during the period. CIBC Asset Management Inc’s holdings in GlobalFoundries were worth $4,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP raised its stake in shares of GlobalFoundries by 89.0% in the 3rd quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock worth $2,969,000 after buying an additional 34,731 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GlobalFoundries by 1,935.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock worth $5,120,000 after buying an additional 120,960 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of GlobalFoundries in the 4th quarter worth $1,748,000. Versor Investments LP raised its stake in shares of GlobalFoundries by 167.7% in the 3rd quarter. Versor Investments LP now owns 19,008 shares of the company’s stock worth $765,000 after buying an additional 11,908 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of GlobalFoundries in the 3rd quarter worth $8,361,000.

GlobalFoundries Stock Down 0.5 %

NASDAQ:GFS opened at $45.79 on Thursday. The firm has a market capitalization of $25.27 billion, a price-to-earnings ratio of -95.39, a PEG ratio of 1.37 and a beta of 1.56. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $42.35 and its 200 day moving average price is $42.16.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, February 11th. The company reported $0.38 EPS 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%. On average, sell-side analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup cut their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, February 12th. Evercore ISI cut their target price on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. UBS Group cut their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday, November 6th. Seven 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 has a consensus rating of “Moderate Buy” and an average price target of $49.64.

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.