Dynamic Technology Lab Private Ltd Takes Position in GlobalFoundries Inc. $GFS

Dynamic Technology Lab Private Ltd acquired a new position in GlobalFoundries Inc. (NASDAQ:GFS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,754 shares of the company’s stock, valued at approximately $907,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Voya Investment Management LLC increased its stake in GlobalFoundries by 2.9% in the 1st quarter. Voya Investment Management LLC now owns 12,288 shares of the company’s stock valued at $454,000 after buying an additional 346 shares during the last quarter. Allworth Financial LP increased its position in shares of GlobalFoundries by 85.5% in the second quarter. Allworth Financial LP now owns 894 shares of the company’s stock valued at $34,000 after acquiring an additional 412 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in GlobalFoundries by 1.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 43,371 shares of the company’s stock worth $1,657,000 after acquiring an additional 429 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in GlobalFoundries by 2.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 20,670 shares of the company’s stock worth $790,000 after acquiring an additional 480 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in GlobalFoundries by 2.8% during the first quarter. Summit Investment Advisors Inc. now owns 18,079 shares of the company’s stock valued at $667,000 after purchasing an additional 496 shares during the last quarter.

GlobalFoundries Price Performance

Shares of GFS opened at $33.99 on Friday. The firm has a market capitalization of $18.79 billion, a PE ratio of -377.62, a PEG ratio of 1.34 and a beta of 1.49. The company’s 50-day moving average is $34.38 and its 200-day moving average is $35.96. GlobalFoundries Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $47.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.03 and a quick ratio of 2.24.

Wall Street Analyst Weigh In

GFS has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. BNP Paribas Exane initiated coverage on shares of GlobalFoundries in a research report on Friday, October 24th. They set an “outperform” rating and a $45.00 price target on the stock. Morgan Stanley cut their price target on shares of GlobalFoundries from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Arete upgraded shares of GlobalFoundries from a “sell” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research note on Wednesday, August 27th. Finally, Arete Research set a $37.00 target price on shares of GlobalFoundries in a research note on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.21.

GlobalFoundries Company 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.