Ellevest Inc. Acquires 3,698 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Ellevest Inc. boosted its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 31.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,283 shares of the company’s stock after purchasing an additional 3,698 shares during the period. Ellevest Inc.’s holdings in GlobalFoundries were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC boosted its stake in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares in the last quarter. Blue Trust Inc. boosted its stake in GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of GlobalFoundries in the 4th quarter worth approximately $52,000. Graney & King LLC bought a new stake in GlobalFoundries in the fourth quarter worth $68,000. Finally, Covestor Ltd increased its stake in GlobalFoundries by 309.8% during the 4th quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after purchasing an additional 1,270 shares in the last quarter.

GlobalFoundries Price Performance

Shares of GFS stock opened at $36.39 on Friday. The stock has a 50 day moving average price of $35.64 and a 200 day moving average price of $39.87. GlobalFoundries Inc. has a 52-week low of $29.77 and a 52-week high of $61.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The firm has a market capitalization of $20.12 billion, a P/E ratio of -75.81, a P/E/G ratio of 1.42 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, sell-side analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GFS shares. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 12th. Morgan Stanley lowered their target price on GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Cantor Fitzgerald restated a “neutral” rating on shares of GlobalFoundries in a research report on Monday. UBS Group lowered their price objective on GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Citigroup reduced their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.33.

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.