GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,275 shares of the company’s stock after purchasing an additional 510 shares during the period. Royal London Asset Management Ltd.’s holdings in GlobalFoundries were worth $1,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GFS. Allspring Global Investments Holdings LLC purchased a new stake in GlobalFoundries during the third quarter valued at about $34,000. US Bancorp DE raised its holdings in shares of GlobalFoundries by 77.0% during the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after acquiring an additional 530 shares during the period. CWM LLC raised its holdings in shares of GlobalFoundries by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after acquiring an additional 373 shares during the period. AM Squared Ltd purchased a new stake in shares of GlobalFoundries in the 3rd quarter valued at approximately $60,000. Finally, Advisors Asset Management Inc. boosted its stake in GlobalFoundries by 41.0% in 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 period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GFS. UBS Group began coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They set a “neutral” rating and a $47.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a research report on Tuesday, November 5th. Susquehanna decreased their price objective on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their target price on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup decreased their price target on shares of GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a report 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’s stock. Based on data from MarketBeat.com, GlobalFoundries currently has an average rating of “Hold” and a consensus target price of $50.21.

GlobalFoundries Stock Performance

GFS opened at $44.88 on Monday. 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 company has a market cap of $24.76 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 10.84 and a beta of 1.59. The stock has a 50-day moving average of $41.34 and a 200-day moving average of $45.33. GlobalFoundries Inc. has a 52-week low of $35.85 and a 52-week high of $62.61.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.33 by $0.08. GlobalFoundries had a return on equity of 6.87% and a net margin of 10.95%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.

GlobalFoundries Company 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.