E Fund Management Co. Ltd. Grows Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

E Fund Management Co. Ltd. increased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,561 shares of the company’s stock after purchasing an additional 1,415 shares during the quarter. E Fund Management Co. Ltd.’s holdings in GlobalFoundries were worth $282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its stake in GlobalFoundries by 89.0% in the third quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock valued at $2,969,000 after acquiring an additional 34,731 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GlobalFoundries by 1,935.4% in the third 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 acquiring an additional 120,960 shares during the last quarter. SG Americas Securities LLC purchased a new position in GlobalFoundries in the fourth quarter valued at about $1,748,000. Versor Investments LP boosted its stake in GlobalFoundries by 167.7% in the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock valued at $765,000 after acquiring an additional 11,908 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in GlobalFoundries in the third quarter valued at about $8,361,000.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $40.00 on Friday. The company’s 50 day moving average is $41.44 and its 200-day moving average is $41.77. 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 cap of $22.07 billion, a P/E ratio of -83.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. GlobalFoundries Inc. has a 12-month low of $35.85 and a 12-month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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 predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

GFS has been the topic of a number of research analyst reports. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research note on Wednesday, February 12th. Morgan Stanley boosted their target price on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, 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 research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, GlobalFoundries has a consensus rating of “Moderate Buy” and an average price target of $49.64.

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.