GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 17.7% during the 4th quarter, HoldingsChannel reports. The firm owned 41,503 shares of the company’s stock after acquiring an additional 6,228 shares during the period. Royal London Asset Management Ltd.’s holdings in GlobalFoundries were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GFS. Signaturefd LLC increased its stake in shares of GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares during the period. Blue Trust Inc. increased its position in GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after acquiring an additional 745 shares during the period. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries during the 4th quarter worth $52,000. Advisors Asset Management Inc. boosted its position in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after acquiring an additional 463 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of GlobalFoundries in the third quarter worth $66,000.

GlobalFoundries Trading Up 2.8 %

GlobalFoundries stock opened at $39.72 on Tuesday. GlobalFoundries Inc. has a 52 week low of $35.85 and a 52 week high of $61.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of -82.75, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a 50 day moving average price of $40.52 and a 200 day moving average price of $41.23.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GFS. UBS Group reduced their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 12th. Morgan Stanley raised their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.