GlobalFoundries Inc. (NASDAQ:GFS) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 28.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,525 shares of the company’s stock after purchasing an additional 7,118 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in GlobalFoundries were worth $1,396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the period. Blue Trust Inc. lifted its holdings in GlobalFoundries by 206.4% in the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after acquiring an additional 745 shares during the period. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries in the fourth quarter valued at approximately $52,000. Advisors Asset Management Inc. lifted its holdings in GlobalFoundries by 41.0% in 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 during the period. Finally, Truvestments Capital LLC acquired a new position in GlobalFoundries in the third quarter valued at approximately $66,000.

GlobalFoundries Stock Down 0.2 %

Shares of GFS opened at $38.59 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $61.98. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of -80.39, a PEG ratio of 1.42 and a beta of 1.57. The stock has a 50 day moving average price of $40.65 and a 200 day moving average price of $41.33.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GFS shares. Morgan Stanley boosted their price target on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, UBS Group reduced their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.64.

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.