GlobalFoundries Inc. (NASDAQ:GFS) Stock Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,046 shares of the company’s stock after acquiring an additional 3,517 shares during the quarter. CIBC Asset Management Inc’s holdings in GlobalFoundries were worth $4,722,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of GlobalFoundries by 4.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,773 shares of the company’s stock valued at $357,000 after acquiring an additional 340 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 463 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of GlobalFoundries by 1.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock valued at $1,420,000 after acquiring an additional 510 shares during the last quarter. US Bancorp DE grew its holdings in GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares during the last quarter. Finally, Wahed Invest LLC grew its holdings in GlobalFoundries by 37.4% in the 3rd quarter. Wahed Invest LLC now owns 2,386 shares of the company’s stock valued at $96,000 after buying an additional 650 shares during the last quarter.

GlobalFoundries Price Performance

GlobalFoundries stock opened at $45.79 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The company has a market capitalization of $25.27 billion, a PE ratio of -95.39, a price-to-earnings-growth ratio of 1.37 and a beta of 1.56. GlobalFoundries Inc. has a one year low of $35.85 and a one year high of $61.98. The business has a 50 day simple moving average of $42.35 and a 200 day simple moving average of $42.16.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results 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 positive return on equity of 6.05% and a negative net margin of 3.93%. On average, sell-side analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GFS has been the topic of a number of research analyst reports. Susquehanna lowered their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Evercore ISI lowered their target price on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a report on Wednesday, November 6th. Finally, UBS Group lowered their target price on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.64.

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.