China Universal Asset Management Co. Ltd. Purchases 1,998 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

China Universal Asset Management Co. Ltd. boosted its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,994 shares of the company’s stock after buying an additional 1,998 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in GlobalFoundries were worth $386,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of GlobalFoundries by 6.5% in the 4th quarter. Pacer Advisors Inc. now owns 28,616 shares of the company’s stock worth $1,228,000 after buying an additional 1,749 shares in the last quarter. KBC Group NV acquired a new position in GlobalFoundries during the fourth quarter worth $338,000. Blue Trust Inc. lifted its holdings in shares of GlobalFoundries by 206.4% during the fourth 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. SG Americas Securities LLC acquired a new stake in shares of GlobalFoundries in the 4th quarter valued at $1,748,000. Finally, Polianta Ltd bought a new stake in shares of GlobalFoundries in the 4th quarter worth about $1,317,000.

GlobalFoundries Trading Down 0.1 %

GFS opened at $41.47 on Monday. The firm has a 50 day simple moving average of $43.00 and a 200 day simple moving average of $43.03. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 8.82 and a beta of 1.57. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76.

GlobalFoundries (NASDAQ:GFS) last issued its earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. On average, sell-side analysts anticipate that GlobalFoundries Inc. will post 1.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on GFS shares. Cantor Fitzgerald reissued a “neutral” rating and set a $40.00 price target on shares of GlobalFoundries in a report on Wednesday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of GlobalFoundries in a report on Wednesday, November 6th. Citigroup dropped their price target on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Wedbush reissued an “outperform” rating and issued a $60.00 price objective (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.