Lombard Odier Asset Management Europe Ltd Buys 3,005 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Lombard Odier Asset Management Europe Ltd increased its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,938 shares of the company’s stock after purchasing an additional 3,005 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in GlobalFoundries were worth $1,059,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GFS. Charles Schwab Investment Management Inc. grew its stake in GlobalFoundries by 19.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 143,870 shares of the company’s stock valued at $8,719,000 after buying an additional 23,414 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in GlobalFoundries by 124.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock valued at $29,581,000 after buying an additional 270,520 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in GlobalFoundries by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 27,797 shares of the company’s stock valued at $1,684,000 after buying an additional 3,345 shares in the last quarter. Norges Bank purchased a new position in GlobalFoundries in the 4th quarter valued at approximately $18,629,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in GlobalFoundries by 12.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 16,963 shares of the company’s stock valued at $1,028,000 after buying an additional 1,943 shares in the last quarter.

GlobalFoundries Stock Down 0.2 %

Shares of NASDAQ:GFS opened at $39.35 on Tuesday. GlobalFoundries Inc. has a 52-week low of $38.49 and a 52-week high of $62.61. The firm has a fifty day moving average of $45.75 and a 200 day moving average of $49.02. The firm has a market capitalization of $21.71 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 6.64 and a beta of 1.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.59 and a current ratio of 2.22.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.10. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, research analysts anticipate that GlobalFoundries Inc. will post 1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GFS has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. TD Cowen reduced their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price target on shares of GlobalFoundries in a research report on Tuesday, July 16th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price target on shares of GlobalFoundries in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.54.

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.