Amundi Increases Position in GlobalFoundries Inc. (NASDAQ:GFS)

Amundi raised its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 144,442 shares of the company’s stock after purchasing an additional 7,481 shares during the period. Amundi’s holdings in GlobalFoundries were worth $6,012,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised 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 valued at $45,000 after buying an additional 745 shares in the last quarter. US Bancorp DE grew its position in 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 last quarter. SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries during the fourth quarter worth approximately $52,000. AM Squared Ltd bought a new stake in shares of GlobalFoundries in the 3rd quarter worth approximately $60,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of GlobalFoundries by 41.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares in the last quarter.

GlobalFoundries Trading Up 3.3 %

NASDAQ:GFS opened at $37.73 on Friday. The company has a 50-day moving average price of $40.91 and a 200-day moving average price of $41.49. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of -78.60, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 12 month low of $35.85 and a 12 month high of $61.98.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data 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%. Equities analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

GFS has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. UBS Group reduced their price target on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock 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 price objective for the company in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, GlobalFoundries has an average 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.