KBC Group NV Purchases Shares of 7,867 GlobalFoundries Inc. (NASDAQ:GFS)

KBC Group NV acquired a new position in GlobalFoundries Inc. (NASDAQ:GFS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,867 shares of the company’s stock, valued at approximately $338,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of GlobalFoundries by 206.4% in 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 position in GlobalFoundries during the 4th quarter valued at $1,748,000. Polianta Ltd bought a new stake in GlobalFoundries in the 4th quarter valued at $1,317,000. Sanibel Captiva Trust Company Inc. grew its position in 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 purchasing an additional 1,200 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of GlobalFoundries by 439.3% during the 3rd quarter. Tidal Investments LLC now owns 32,318 shares of the company’s stock worth $1,301,000 after purchasing an additional 26,325 shares during the period.

GlobalFoundries Trading Down 0.2 %

Shares of NASDAQ GFS opened at $41.40 on Tuesday. GlobalFoundries Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $61.98. The firm has a market capitalization of $22.84 billion, a P/E ratio of 30.90, a P/E/G ratio of 8.84 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.42 and a quick ratio of 1.76. The company’s 50 day simple moving average is $43.00 and its 200 day simple moving average is $43.03.

GlobalFoundries (NASDAQ:GFS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. On average, analysts predict that GlobalFoundries Inc. will post 1.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GFS. Robert W. Baird reduced their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 price objective on shares of GlobalFoundries in a report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Finally, Citigroup decreased their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, GlobalFoundries presently has an average rating of “Hold” and a consensus price target of $50.21.

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.