Blue Trust Inc. Acquires 745 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Blue Trust Inc. increased its holdings in GlobalFoundries Inc. (NASDAQ:GFS) by 206.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,106 shares of the company’s stock after purchasing an additional 745 shares during the period. Blue Trust Inc.’s holdings in GlobalFoundries were worth $45,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GFS. Inspire Investing LLC grew its holdings in GlobalFoundries by 36.4% during the third quarter. Inspire Investing LLC now owns 7,033 shares of the company’s stock valued at $283,000 after purchasing an additional 1,875 shares during the last quarter. Creative Planning bought a new stake in shares of GlobalFoundries during the 3rd quarter worth $295,000. Renaissance Capital LLC grew its stake in GlobalFoundries by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 106,047 shares of the company’s stock valued at $4,268,000 after buying an additional 17,707 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in GlobalFoundries in the 3rd quarter worth $34,000. Finally, International Assets Investment Management LLC lifted its position in GlobalFoundries by 2,162.6% during the 3rd quarter. International Assets Investment Management LLC now owns 158,384 shares of the company’s stock worth $63,750,000 after acquiring an additional 151,384 shares during the last quarter.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $38.45 on Monday. The stock has a market cap of $21.22 billion, a P/E ratio of 28.69, a PEG ratio of 8.23 and a beta of 1.56. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $61.98. The company’s 50-day simple moving average is $42.63 and its 200 day simple moving average is $42.49.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird lowered their price target on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Susquehanna reduced their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Citigroup dropped their target price on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.21.

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.