Polianta Ltd Takes $1.32 Million Position in GlobalFoundries Inc. (NASDAQ:GFS)

Polianta Ltd bought a new stake in GlobalFoundries Inc. (NASDAQ:GFS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,700 shares of the company’s stock, valued at approximately $1,317,000. GlobalFoundries makes up approximately 0.6% of Polianta Ltd’s holdings, making the stock its 25th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of GlobalFoundries by 108.6% in the 2nd quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after acquiring an additional 1,299,687 shares during the last quarter. FMR LLC boosted its holdings in 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 acquiring an additional 1,160,403 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of GlobalFoundries by 267.7% in the 2nd quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after acquiring an additional 257,749 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of GlobalFoundries in the third quarter valued at about $8,361,000. Finally, Ghisallo Capital Management LLC lifted its position in shares of GlobalFoundries by 200.0% during the second quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock valued at $15,168,000 after purchasing an additional 200,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GFS shares. Susquehanna decreased their price target on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley lowered GlobalFoundries from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $43.00 in a research report on Monday, October 28th. UBS Group assumed coverage on shares of GlobalFoundries in a report on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 price target on the stock. Robert W. Baird decreased their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a research note on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, GlobalFoundries presently has a consensus rating of “Hold” and an average target price of $50.21.

GlobalFoundries Trading Up 5.3 %

NASDAQ GFS opened at $43.10 on Friday. The stock’s 50 day moving average is $43.08 and its 200 day moving average is $43.94. The company has a quick ratio of 1.76, a current ratio of 2.42 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $23.78 billion, a PE ratio of 32.16, a P/E/G ratio of 8.70 and a beta of 1.57. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $61.98.

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

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.