US Bancorp DE Buys 2,280 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

US Bancorp DE boosted its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 187.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,498 shares of the company’s stock after buying an additional 2,280 shares during the quarter. US Bancorp DE’s holdings in GlobalFoundries were worth $150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GFS. Sumitomo Mitsui Trust Group Inc. increased its position in GlobalFoundries by 13.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 107,802 shares of the company’s stock valued at $4,339,000 after purchasing an additional 12,948 shares during the period. CIBC Asset Management Inc increased its position in GlobalFoundries by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 106,529 shares of the company’s stock valued at $4,288,000 after purchasing an additional 3,798 shares during the period. AM Squared Ltd purchased a new position in GlobalFoundries during the 3rd quarter valued at about $60,000. Advisors Asset Management Inc. increased its position in GlobalFoundries by 41.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares during the period. Finally, Intech Investment Management LLC increased its position in GlobalFoundries by 33.1% during the 3rd quarter. Intech Investment Management LLC now owns 8,656 shares of the company’s stock valued at $348,000 after purchasing an additional 2,155 shares during the period.

GlobalFoundries Stock Performance

Shares of NASDAQ GFS opened at $37.73 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 12 month low of $35.85 and a 12 month high of $61.98. The company has a 50 day simple moving average of $40.91 and a two-hundred day simple moving average of $41.49. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of -78.60, a PEG ratio of 1.42 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GFS shares. UBS Group cut their price objective on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.