Skandinaviska Enskilda Banken AB publ Has $1.20 Million Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Skandinaviska Enskilda Banken AB publ increased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,695 shares of the company’s stock after buying an additional 5,595 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in GlobalFoundries were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position 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 buying an additional 463 shares during the last quarter. Private Advisor Group LLC lifted its holdings in GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after purchasing an additional 468 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in GlobalFoundries by 1.5% during the third quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company’s stock worth $1,420,000 after purchasing an additional 510 shares during the period. US Bancorp DE increased its holdings in shares of GlobalFoundries by 77.0% in the third quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after purchasing an additional 530 shares during the last quarter. Finally, Wahed Invest LLC raised its position in shares of GlobalFoundries by 37.4% in the third quarter. Wahed Invest LLC now owns 2,386 shares of the company’s stock valued at $96,000 after purchasing an additional 650 shares during the period.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $38.74 on Tuesday. The company has a 50 day moving average of $40.81 and a 200-day moving average of $41.41. The company has a market cap of $21.38 billion, a PE ratio of -80.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last issued 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 negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GFS has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. 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. UBS Group decreased their price objective on GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GlobalFoundries presently has an average rating of “Moderate Buy” and an average 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.