Skandinaviska Enskilda Banken AB publ Buys 5,595 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Skandinaviska Enskilda Banken AB publ raised its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 25.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,695 shares of the company’s stock after buying an additional 5,595 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in GlobalFoundries were worth $1,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in shares of GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after acquiring an additional 463 shares during the last quarter. Private Advisor Group LLC increased its holdings in GlobalFoundries by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock worth $287,000 after purchasing an additional 468 shares in the last quarter. Royal London Asset Management Ltd. raised its position in GlobalFoundries by 1.5% in the third quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock valued at $1,420,000 after purchasing an additional 510 shares during the last quarter. US Bancorp DE boosted its stake in shares of GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after purchasing an additional 530 shares in the last quarter. Finally, Wahed Invest LLC grew its holdings in shares of GlobalFoundries by 37.4% during the third quarter. Wahed Invest LLC now owns 2,386 shares of the company’s stock worth $96,000 after purchasing an additional 650 shares during the last quarter.

GlobalFoundries Price Performance

Shares of GFS opened at $38.74 on Tuesday. The firm has a market cap of $21.38 billion, a PE ratio of -80.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $61.98. The business’s 50 day moving average price is $40.81 and its two-hundred day moving average price is $41.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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 report on Wednesday, February 12th. UBS Group cut their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a 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. Based on data from MarketBeat.com, GlobalFoundries presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

GlobalFoundries Company 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.