Machina Capital S.A.S. Invests $1.28 Million in GlobalFoundries Inc. $GFS

Machina Capital S.A.S. purchased a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 33,590 shares of the company’s stock, valued at approximately $1,283,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of GlobalFoundries during the first quarter valued at approximately $33,000. Signaturefd LLC boosted its holdings in GlobalFoundries by 51.3% during the 1st quarter. Signaturefd LLC now owns 1,026 shares of the company’s stock valued at $38,000 after acquiring an additional 348 shares during the period. IFP Advisors Inc grew its position in GlobalFoundries by 824.7% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the company’s stock valued at $38,000 after acquiring an additional 800 shares during the last quarter. Summit Securities Group LLC increased its stake in GlobalFoundries by 142.2% in the first quarter. Summit Securities Group LLC now owns 1,298 shares of the company’s stock worth $48,000 after purchasing an additional 762 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in shares of GlobalFoundries by 26.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,539 shares of the company’s stock worth $57,000 after purchasing an additional 320 shares during the last quarter.

Wall Street Analyst Weigh In

GFS has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on shares of GlobalFoundries from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Arete Research set a $37.00 target price on shares of GlobalFoundries in a research note on Wednesday, August 27th. Wedbush decreased their price target on shares of GlobalFoundries from $48.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group reissued a “hold” rating and issued a $38.00 price objective on shares of GlobalFoundries in a research note on Monday, October 27th. Finally, UBS Group decreased their target price on GlobalFoundries from $43.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, GlobalFoundries presently has a consensus rating of “Hold” and a consensus price target of $43.00.

GlobalFoundries Price Performance

NASDAQ GFS opened at $35.66 on Tuesday. The company has a market cap of $19.72 billion, a PE ratio of -169.80, a P/E/G ratio of 1.39 and a beta of 1.49. The firm’s 50 day moving average price is $34.16 and its 200-day moving average price is $36.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.92 and a current ratio of 2.63. GlobalFoundries Inc. has a 52-week low of $29.77 and a 52-week high of $47.69.

GlobalFoundries (NASDAQ:GFS) last posted its earnings results on Tuesday, August 5th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. GlobalFoundries had a positive return on equity of 6.55% and a negative net margin of 1.68%.The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. GlobalFoundries’s revenue was up 3.4% on a year-over-year basis. Sell-side 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.