Denali Advisors LLC Grows Position in GlobalFoundries Inc. (NASDAQ:GFS)

Denali Advisors LLC increased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,516 shares of the company’s stock after buying an additional 1,216 shares during the quarter. Denali Advisors LLC’s holdings in GlobalFoundries were worth $365,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GFS. FMR LLC grew its stake in shares of 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 buying an additional 1,160,403 shares in the last quarter. Weiss Asset Management LP acquired a new stake in GlobalFoundries during the 3rd quarter valued at approximately $8,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in GlobalFoundries by 1,935.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock valued at $5,120,000 after purchasing an additional 120,960 shares in the last quarter. Shade Tree Advisors LLC acquired a new stake in GlobalFoundries during the 4th quarter valued at approximately $5,096,000. Finally, Handelsbanken Fonder AB grew its stake in GlobalFoundries by 381.9% during the 4th quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company’s stock valued at $5,847,000 after purchasing an additional 107,994 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Susquehanna lowered their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Citigroup decreased their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Trading Down 5.6 %

Shares of NASDAQ GFS opened at $38.35 on Friday. The stock’s 50 day simple moving average is $42.18 and its 200 day simple moving average is $42.09. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market cap of $21.16 billion, a price-to-earnings ratio of -79.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings data 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 positive return on equity of 6.05% and a negative net margin of 3.93%. Equities research analysts expect that GlobalFoundries Inc. will post 1.31 EPS for the current year.

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.