GAMMA Investing LLC Raises Stake in GlobalFoundries Inc. (NASDAQ:GFS)

GAMMA Investing LLC raised its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 9,009.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,139 shares of the company's stock after buying an additional 23,874 shares during the period. GAMMA Investing LLC's holdings in GlobalFoundries were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of GFS. SBI Securities Co. Ltd. acquired a new position in GlobalFoundries in the fourth quarter valued at approximately $52,000. US Bancorp DE raised its stake in GlobalFoundries by 187.2% during the 4th quarter. US Bancorp DE now owns 3,498 shares of the company's stock valued at $150,000 after acquiring an additional 2,280 shares during the last quarter. Geode Capital Management LLC lifted its position in GlobalFoundries by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after acquiring an additional 16,921 shares during the period. Sei Investments Co. increased its holdings in shares of GlobalFoundries by 7.6% in the fourth quarter. Sei Investments Co. now owns 9,495 shares of the company's stock valued at $407,000 after purchasing an additional 667 shares during the period. Finally, Private Advisor Group LLC grew its position in GlobalFoundries by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock valued at $287,000 after buying an additional 468 shares during the last quarter.

Analysts Set New Price Targets

GFS has been the subject of several analyst reports. UBS Group cut their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a report on Monday, May 5th. Morgan Stanley cut their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Citigroup reduced their price target on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, GlobalFoundries presently has a consensus rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Trading Up 0.2%

Shares of NASDAQ:GFS traded up $0.07 during midday trading on Friday, reaching $37.20. The company's stock had a trading volume of 1,350,900 shares, compared to its average volume of 2,053,728. The firm has a market cap of $20.57 billion, a price-to-earnings ratio of -109.42, a price-to-earnings-growth ratio of 1.16 and a beta of 1.50. The business has a 50 day moving average price of $36.26 and a 200 day moving average price of $39.09. GlobalFoundries Inc. has a 1 year low of $29.77 and a 1 year high of $61.98. The company has a quick ratio of 1.77, a current ratio of 2.51 and a debt-to-equity ratio of 0.13.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. GlobalFoundries had a positive return on equity of 6.28% and a negative net margin of 2.77%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The firm's revenue was up 2.3% on a year-over-year basis. Research analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current 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.