E Fund Management Co. Ltd. Has $282,000 Stock Position in GlobalFoundries Inc. (NASDAQ:GFS)

E Fund Management Co. Ltd. raised its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,561 shares of the company’s stock after buying an additional 1,415 shares during the period. E Fund Management Co. Ltd.’s holdings in GlobalFoundries were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in GlobalFoundries by 2.4% in the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after buying an additional 1,160,403 shares in the last quarter. State Street Corp raised its stake in shares of GlobalFoundries by 8.3% during the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock valued at $51,341,000 after acquiring an additional 98,084 shares during the last quarter. Citigroup Inc. raised its stake in shares of GlobalFoundries by 16.0% during the third quarter. Citigroup Inc. now owns 628,259 shares of the company’s stock valued at $25,287,000 after acquiring an additional 86,740 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of GlobalFoundries by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 262,872 shares of the company’s stock valued at $11,280,000 after acquiring an additional 48,380 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of GlobalFoundries during the third quarter valued at $8,361,000.

Analysts Set New Price Targets

GFS has been the subject of several analyst reports. UBS Group dropped their price target 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 reaffirmed an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a research note on Wednesday, February 12th. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.64.

GlobalFoundries Stock Up 4.2 %

Shares of NASDAQ GFS opened at $40.00 on Friday. The stock has a market capitalization of $22.07 billion, a P/E ratio of -83.33, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a 50-day moving average price of $41.44 and a 200-day moving average price of $41.77. GlobalFoundries Inc. has a 1 year low of $35.85 and a 1 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.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. On average, equities research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS 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.