Ellevest Inc. Acquires 3,698 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Ellevest Inc. boosted its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 31.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,283 shares of the company’s stock after buying an additional 3,698 shares during the quarter. Ellevest Inc.’s holdings in GlobalFoundries were worth $656,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sanibel Captiva Trust Company Inc. grew its position in shares of GlobalFoundries by 14.5% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company’s stock worth $406,000 after buying an additional 1,200 shares during the last quarter. Polianta Ltd acquired a new position in shares of GlobalFoundries during the fourth quarter worth $1,317,000. SG Americas Securities LLC purchased a new stake in shares of GlobalFoundries during the 4th quarter valued at $1,748,000. Blue Trust Inc. boosted its position in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after purchasing an additional 745 shares in the last quarter. Finally, KBC Group NV purchased a new position in GlobalFoundries during the 4th quarter worth $338,000.

GlobalFoundries Stock Performance

NASDAQ:GFS opened at $36.39 on Friday. The company has a market cap of $20.12 billion, a price-to-earnings ratio of -75.81, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The company has a fifty day simple moving average of $35.64 and a two-hundred day simple moving average of $39.87.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company earned $0.31 EPS. GlobalFoundries’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GFS shares. UBS Group lowered their price target on GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Morgan Stanley dropped their target price on shares of GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of GlobalFoundries in a research report on Monday. Finally, Citigroup lowered their price target on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Five 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

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.