Edgestream Partners L.P. Buys Shares of 42,211 GlobalFoundries Inc. (NASDAQ:GFS)

Edgestream Partners L.P. bought a new stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,211 shares of the company’s stock, valued at approximately $1,811,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in GlobalFoundries by 41.0% during 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 during the period. Private Advisor Group LLC boosted its stake in GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after purchasing an additional 468 shares during the period. Royal London Asset Management Ltd. boosted its stake in GlobalFoundries by 1.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock valued at $1,420,000 after purchasing an additional 510 shares during the period. US Bancorp DE boosted its stake in GlobalFoundries by 77.0% during the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after purchasing an additional 530 shares during the period. Finally, Wahed Invest LLC boosted its stake in GlobalFoundries by 37.4% during the 3rd quarter. Wahed Invest LLC now owns 2,386 shares of the company’s stock valued at $96,000 after purchasing an additional 650 shares during the period.

GlobalFoundries Stock Down 0.6 %

GFS stock opened at $39.74 on Tuesday. GlobalFoundries Inc. has a 12 month low of $35.85 and a 12 month high of $61.98. The firm has a market cap of $21.93 billion, a PE ratio of -82.79, a P/E/G ratio of 1.42 and a beta of 1.57. The firm has a 50 day simple moving average of $41.37 and a 200 day simple moving average of $41.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57.

GlobalFoundries (NASDAQ:GFS) last released its earnings results 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 negative net margin of 3.93% and a positive return on equity of 6.05%. Equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group dropped their price target on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley boosted their price target 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. Needham & Company LLC upgraded shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.64.

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.