Machina Capital S.A.S. Makes New Investment in GlobalFoundries Inc. (NASDAQ:GFS)

Machina Capital S.A.S. bought a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,168 shares of the company’s stock, valued at approximately $265,000.

Several other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position 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 buying an additional 1,160,403 shares in the last quarter. State Street Corp increased its stake 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 purchasing an additional 98,084 shares during the last quarter. Citigroup Inc. increased its stake 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 purchasing an additional 86,740 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of GlobalFoundries by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 262,872 shares of the company’s stock worth $11,280,000 after purchasing an additional 48,380 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of GlobalFoundries during the 3rd quarter worth approximately $8,361,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GFS. Wedbush restated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, UBS Group decreased their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note 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.com, the company has an average rating of “Moderate Buy” and an average price target of $49.64.

GlobalFoundries Stock Up 4.2 %

GFS opened at $40.00 on Monday. The company has a fifty day moving average price of $41.44 and a 200-day moving average price of $41.74. The firm has a market capitalization of $22.07 billion, a P/E ratio of -83.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released its quarterly 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%. Equities research analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal 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.