Daiwa Securities Group Inc. Raises Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Daiwa Securities Group Inc. raised its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,145 shares of the company’s stock after purchasing an additional 1,853 shares during the period. Daiwa Securities Group Inc.’s holdings in GlobalFoundries were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC lifted its position in shares of GlobalFoundries by 2.4% during the 3rd quarter. FMR LLC now owns 49,375,403 shares of the company’s stock worth $1,987,360,000 after purchasing an additional 1,160,403 shares during the last quarter. State Street Corp raised its stake in GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after buying an additional 98,084 shares in the last quarter. Citigroup Inc. lifted its holdings in GlobalFoundries by 16.0% during the 3rd quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock worth $25,287,000 after buying an additional 86,740 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of GlobalFoundries by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 262,872 shares of the company’s stock worth $11,280,000 after acquiring an additional 48,380 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of GlobalFoundries in the 3rd quarter valued at about $8,361,000.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $37.73 on Friday. The firm has a market cap of $20.82 billion, a P/E ratio of -78.60, a P/E/G ratio of 1.42 and a beta of 1.57. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $61.98. The business’s 50-day moving average price is $40.91 and its 200 day moving average price is $41.52. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

GlobalFoundries (NASDAQ:GFS) last announced its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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, equities research analysts expect that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on GFS. 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 research note on Wednesday, February 12th. Morgan Stanley boosted 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 restated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a report on Wednesday, February 12th. Finally, UBS Group cut their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note 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 data from MarketBeat, 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.