Janney Montgomery Scott LLC Raises Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Janney Montgomery Scott LLC grew its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 49.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,342 shares of the company's stock after buying an additional 10,313 shares during the quarter. Janney Montgomery Scott LLC's holdings in GlobalFoundries were worth $1,157,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GFS. Signaturefd LLC boosted its stake in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 411 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of GlobalFoundries in the fourth quarter valued at $52,000. Graney & King LLC acquired a new position in shares of GlobalFoundries in the 4th quarter worth $68,000. Covestor Ltd increased its stake in GlobalFoundries by 309.8% in the 4th quarter. Covestor Ltd now owns 1,680 shares of the company's stock worth $72,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of GlobalFoundries by 305.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,102 shares of the company's stock worth $90,000 after buying an additional 1,583 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on GFS. Morgan Stanley reduced their price target on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. Argus assumed coverage on shares of GlobalFoundries in a research report on Tuesday. They set a "buy" rating and a $52.00 target price for the company. Citigroup reduced their target price on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, UBS Group cut their price objective on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, GlobalFoundries presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

GlobalFoundries Trading Down 0.1%

Shares of GFS traded down $0.05 during trading hours on Wednesday, reaching $39.39. 790,417 shares of the company traded hands, compared to its average volume of 1,820,521. GlobalFoundries Inc. has a 12 month low of $29.77 and a 12 month high of $61.98. The company's fifty day moving average price is $37.25 and its two-hundred day moving average price is $38.73. The company has a market capitalization of $21.78 billion, a price-to-earnings ratio of -115.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. 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 announced its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. GlobalFoundries had a negative net margin of 2.77% and a positive return on equity of 6.28%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. Equities research analysts predict that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

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.