Nomura Asset Management Co. Ltd. Has $832,000 Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Nomura Asset Management Co. Ltd. lowered its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,386 shares of the company’s stock after selling 1,360 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in GlobalFoundries were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Weiss Asset Management LP bought a new position in GlobalFoundries during the 3rd quarter worth $8,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 in the last quarter. Shade Tree Advisors LLC bought a new position in GlobalFoundries during the fourth quarter worth about $5,096,000. Norges Bank acquired a new stake in GlobalFoundries in the 4th quarter worth about $4,672,000. Finally, Handelsbanken Fonder AB boosted its holdings in GlobalFoundries by 381.9% in 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 during the period.

GlobalFoundries Trading Up 3.3 %

GFS opened at $37.18 on Thursday. The company’s 50 day moving average is $39.87 and its 200-day moving average is $41.09. The company has a market cap of $20.56 billion, a P/E ratio of -77.46, a PEG ratio of 1.42 and a beta of 1.57. GlobalFoundries Inc. has a 1-year low of $35.15 and a 1-year high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

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%. Equities research analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GFS. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. UBS Group cut their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Finally, Wedbush restated 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.64.

About GlobalFoundries

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.