SG Americas Securities LLC Decreases Stake in GlobalFoundries Inc. (NASDAQ:GFS)

SG Americas Securities LLC reduced its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,876 shares of the company's stock after selling 6,853 shares during the period. SG Americas Securities LLC's holdings in GlobalFoundries were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GFS. Signaturefd LLC increased its stake in GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 411 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of GlobalFoundries by 206.4% in the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock valued at $45,000 after buying an additional 745 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of GlobalFoundries in the 4th quarter valued at $52,000. Graney & King LLC acquired a new stake in GlobalFoundries during the 4th quarter worth $68,000. Finally, Covestor Ltd raised its stake in GlobalFoundries by 309.8% during the 4th quarter. Covestor Ltd now owns 1,680 shares of the company's stock worth $72,000 after acquiring an additional 1,270 shares in the last quarter.

GlobalFoundries Stock Performance

Shares of NASDAQ:GFS traded up $0.39 during trading on Friday, reaching $37.52. The company had a trading volume of 1,418,213 shares, compared to its average volume of 1,813,954. GlobalFoundries Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $61.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.77. The stock's fifty day moving average price is $36.26 and its 200 day moving average price is $39.09. The firm has a market capitalization of $20.74 billion, a price-to-earnings ratio of -110.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.50.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GFS shares. UBS Group dropped their price objective on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Morgan Stanley cut their price target on GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, Citigroup reduced their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $47.09.

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.