Marshall Wace LLP Has $35.15 Million Stock Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Marshall Wace LLP lowered its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 53.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 819,127 shares of the company’s stock after selling 923,149 shares during the quarter. Marshall Wace LLP owned 0.15% of GlobalFoundries worth $35,149,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GFS. Signaturefd LLC boosted its position in GlobalFoundries by 153.9% during the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares during the last quarter. Blue Trust Inc. raised its stake in shares of GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after purchasing an additional 745 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of GlobalFoundries during the 4th quarter worth approximately $52,000. Graney & King LLC acquired a new stake in shares of GlobalFoundries in the 4th quarter valued at approximately $68,000. Finally, Covestor Ltd grew its stake in shares of GlobalFoundries by 309.8% in the fourth quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $72,000 after buying an additional 1,270 shares in the last quarter.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock opened at $31.70 on Friday. The company has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $40.41. GlobalFoundries Inc. has a twelve month low of $29.77 and a twelve month high of $61.98. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of -66.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. 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 issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (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%. Analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on GFS shares. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC upgraded shares of 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. Citigroup reduced their price target on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 11th. UBS Group dropped their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, GlobalFoundries currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.85.

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.