California Public Employees Retirement System Trims Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

California Public Employees Retirement System decreased its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 120,771 shares of the company’s stock after selling 6,217 shares during the period. California Public Employees Retirement System’s holdings in GlobalFoundries were worth $5,182,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Signaturefd LLC grew its position in shares of GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares in the last quarter. Blue Trust Inc. increased its stake in GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock worth $45,000 after acquiring an additional 745 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of GlobalFoundries in the 4th quarter valued at about $52,000. Graney & King LLC bought a new stake in shares of GlobalFoundries during the 4th quarter valued at about $68,000. Finally, US Bancorp DE grew its holdings in shares of GlobalFoundries by 187.2% during the fourth quarter. US Bancorp DE now owns 3,498 shares of the company’s stock worth $150,000 after purchasing an additional 2,280 shares in the last quarter.

GlobalFoundries Price Performance

Shares of GlobalFoundries stock opened at $30.37 on Wednesday. The stock has a market capitalization of $16.79 billion, a P/E ratio of -63.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a one year low of $29.74 and a one year high of $61.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The business’s 50 day simple moving average is $38.90 and its two-hundred day simple moving average is $40.82.

GlobalFoundries (NASDAQ:GFS) last issued 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%. Analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

GFS has been the subject of several research analyst reports. UBS Group dropped their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley upped their target price 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. Wedbush restated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries 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 on the stock in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.