NEOS Investment Management LLC Purchases 6,587 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

NEOS Investment Management LLC grew its position in GlobalFoundries Inc. (NASDAQ:GFS) by 20.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 38,950 shares of the company’s stock after buying an additional 6,587 shares during the quarter. NEOS Investment Management LLC’s holdings in GlobalFoundries were worth $1,671,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GFS. Signaturefd LLC grew its holdings in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 411 shares during the last quarter. Blue Trust Inc. lifted its position in shares of GlobalFoundries by 206.4% during the fourth 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 fourth quarter valued at approximately $52,000. Advisors Asset Management Inc. increased its holdings in shares of GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock valued at $64,000 after purchasing an additional 463 shares in the last quarter. Finally, Graney & King LLC bought a new position in GlobalFoundries in the 4th quarter worth approximately $68,000.

GlobalFoundries Trading Down 3.0 %

Shares of NASDAQ GFS opened at $36.89 on Friday. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $61.98. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of -76.85, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average is $40.23 and its 200-day moving average is $41.16.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share 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%. Equities research analysts predict that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GFS shares. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. 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 report on Wednesday, February 12th. Morgan Stanley boosted their price objective on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, UBS Group reduced their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.