Handelsbanken Fonder AB Buys 107,994 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Handelsbanken Fonder AB lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 381.9% in the 4th quarter, HoldingsChannel reports. The fund owned 136,270 shares of the company’s stock after purchasing an additional 107,994 shares during the quarter. Handelsbanken Fonder AB’s holdings in GlobalFoundries were worth $5,847,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its stake in GlobalFoundries by 2.4% in the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after purchasing an additional 1,160,403 shares during the last quarter. State Street Corp boosted its holdings in shares of GlobalFoundries by 8.3% in the 3rd quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after buying an additional 98,084 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of GlobalFoundries by 16.0% in the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after buying an additional 86,740 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of GlobalFoundries by 16.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company’s stock valued at $8,633,000 after buying an additional 29,785 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of GlobalFoundries in the 3rd quarter valued at about $8,361,000.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $42.43 on Friday. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $61.98. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $23.41 billion, a P/E ratio of -88.39, a PEG ratio of 1.42 and a beta of 1.56. The company has a 50 day moving average price of $42.33 and a 200 day moving average price of $42.15.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on GFS shares. UBS Group lowered their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Evercore ISI lowered their price target on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, GlobalFoundries presently has an average rating of “Moderate Buy” and a consensus target price 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.