Canada Pension Plan Investment Board Buys 8,351 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Canada Pension Plan Investment Board increased its position in GlobalFoundries Inc. (NASDAQ:GFS) by 4.6% during the 4th quarter, Holdings Channel reports. The firm owned 191,209 shares of the company’s stock after acquiring an additional 8,351 shares during the quarter. Canada Pension Plan Investment Board’s holdings in GlobalFoundries were worth $8,205,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of GlobalFoundries in the 3rd quarter worth approximately $689,000. Tidal Investments LLC lifted its holdings in GlobalFoundries by 439.3% during the third quarter. Tidal Investments LLC now owns 32,318 shares of the company’s stock worth $1,301,000 after buying an additional 26,325 shares during the period. Sanibel Captiva Trust Company Inc. boosted its position in GlobalFoundries by 14.5% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 9,470 shares of the company’s stock valued at $406,000 after acquiring an additional 1,200 shares in the last quarter. Polianta Ltd bought a new position in shares of GlobalFoundries in the 4th quarter worth $1,317,000. Finally, SG Americas Securities LLC purchased a new stake in shares of GlobalFoundries during the 4th quarter worth $1,748,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on GFS shares. Citigroup cut their target price on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. UBS Group lowered their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday, February 12th. Morgan Stanley boosted 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. Finally, Needham & Company LLC raised GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, GlobalFoundries has an average rating of “Moderate Buy” and an average price target of $48.85.

GlobalFoundries Trading Down 1.1 %

NASDAQ GFS opened at $31.36 on Tuesday. The company has a fifty day moving average of $37.48 and a 200 day moving average of $40.37. The company has a market capitalization of $17.34 billion, a PE ratio of -65.33, a P/E/G ratio of 1.42 and a beta of 1.54. 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 Inc. has a 1 year low of $29.77 and a 1 year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last posted 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 positive return on equity of 6.05% and a negative net margin of 3.93%. Research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current 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.