Harvest Fund Management Co. Ltd Raises Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Harvest Fund Management Co. Ltd raised its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 28.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,525 shares of the company’s stock after buying an additional 7,118 shares during the period. Harvest Fund Management Co. Ltd’s holdings in GlobalFoundries were worth $1,396,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GFS. Signaturefd LLC grew its holdings in GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 411 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after purchasing an additional 745 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of GlobalFoundries during the 4th quarter worth about $52,000. Advisors Asset Management Inc. increased its position 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 worth $64,000 after purchasing an additional 463 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of GlobalFoundries during the 3rd quarter worth about $66,000.

GlobalFoundries Stock Performance

Shares of GFS opened at $38.59 on Thursday. The stock has a 50-day simple moving average of $40.65 and a 200-day simple moving average of $41.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 2.11. The stock has a market capitalization of $21.29 billion, a PE ratio of -80.39, a PEG ratio of 1.42 and a beta of 1.57. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (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%. On average, analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GFS has been the subject of a number of recent analyst reports. UBS Group cut their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, Needham & Company LLC upgraded 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.