Blue Trust Inc. Has $45,000 Position in GlobalFoundries Inc. (NASDAQ:GFS)

Blue Trust Inc. increased its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 206.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,106 shares of the company’s stock after purchasing an additional 745 shares during the period. Blue Trust Inc.’s holdings in GlobalFoundries were worth $45,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Creative Planning bought a new position in GlobalFoundries during the third quarter valued at about $295,000. Allspring Global Investments Holdings LLC bought a new stake in shares of GlobalFoundries during the third quarter valued at approximately $34,000. DekaBank Deutsche Girozentrale increased its position in shares of GlobalFoundries by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock valued at $357,000 after purchasing an additional 340 shares during the period. abrdn plc raised its stake in shares of GlobalFoundries by 48.0% in the third quarter. abrdn plc now owns 34,643 shares of the company’s stock valued at $1,394,000 after purchasing an additional 11,243 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in GlobalFoundries by 111.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,996 shares of the company’s stock worth $282,000 after purchasing an additional 3,680 shares during the period.

GlobalFoundries Price Performance

Shares of GFS stock opened at $40.61 on Thursday. The stock’s fifty day moving average is $42.22 and its 200-day moving average is $42.10. 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 Inc. has a 52 week low of $35.85 and a 52 week high of $61.98. The stock has a market capitalization of $22.41 billion, a PE ratio of -84.60, a PEG ratio of 1.42 and a beta of 1.56.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. Equities research analysts expect that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GFS. Citigroup lowered their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft cut their price target on shares of GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird decreased their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.64.

About GlobalFoundries

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.