Dynamic Technology Lab Private Ltd Makes New Investment in GlobalFoundries Inc. (NASDAQ:GFS)

Dynamic Technology Lab Private Ltd acquired a new position in GlobalFoundries Inc. (NASDAQ:GFS) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,431 shares of the company’s stock, valued at approximately $500,000.

A number of other institutional investors have also recently added to or reduced their stakes in GFS. Daiwa Securities Group Inc. lifted its position in shares of GlobalFoundries by 11.9% during the third quarter. Daiwa Securities Group Inc. now owns 35,292 shares of the company’s stock worth $1,421,000 after purchasing an additional 3,744 shares during the last quarter. Citigroup Inc. lifted its position in shares of GlobalFoundries by 16.0% during the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after purchasing an additional 86,740 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of GlobalFoundries by 16.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 214,492 shares of the company’s stock worth $8,633,000 after purchasing an additional 29,785 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of GlobalFoundries by 33.1% during the third quarter. Intech Investment Management LLC now owns 8,656 shares of the company’s stock worth $348,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of GlobalFoundries by 41.0% during the third 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.

GlobalFoundries Trading Up 0.9 %

GlobalFoundries stock opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 10.46 and a beta of 1.53. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 year high of $62.61. The firm’s 50 day moving average price is $40.86 and its two-hundred day moving average price is $45.80.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GFS shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 price target on shares of GlobalFoundries in a research report on Wednesday, November 6th. TD Cowen cut their target price on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI cut their target price on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Susquehanna cut their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup dropped their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.21.

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.