Invesco Ltd. Acquires 221,731 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Invesco Ltd. grew its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 10.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,331,811 shares of the company’s stock after acquiring an additional 221,731 shares during the quarter. Invesco Ltd.’s holdings in GlobalFoundries were worth $100,058,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC grew its holdings in GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company’s stock worth $2,278,373,000 after purchasing an additional 3,721,153 shares during the last quarter. Shade Tree Advisors LLC purchased a new position in GlobalFoundries during the 4th quarter worth $5,096,000. Norges Bank acquired a new position in GlobalFoundries during the 4th quarter valued at about $4,672,000. Handelsbanken Fonder AB raised its stake in GlobalFoundries by 381.9% in the fourth quarter. Handelsbanken Fonder AB now owns 136,270 shares of the company’s stock valued at $5,847,000 after buying an additional 107,994 shares during the last quarter. Finally, State Street Corp boosted its holdings in GlobalFoundries by 8.3% in the third quarter. State Street Corp now owns 1,275,554 shares of the company’s stock worth $51,341,000 after acquiring an additional 98,084 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup decreased their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research note on Wednesday, February 12th. UBS Group cut their target price on 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 lifted their price target on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating 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 for the company in a research note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, GlobalFoundries presently has an average rating of “Moderate Buy” and a consensus target price of $49.29.

GlobalFoundries Price Performance

Shares of NASDAQ GFS opened at $33.33 on Monday. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of -69.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The firm has a 50-day simple moving average of $38.39 and a 200-day simple moving average of $40.68. 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 released its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. On average, equities analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

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.