SG Americas Securities LLC Sells 6,853 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

SG Americas Securities LLC trimmed its position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 16.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,876 shares of the company's stock after selling 6,853 shares during the quarter. 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 hedge funds and other institutional investors also recently made changes to their positions in GFS. Signaturefd LLC lifted its position in GlobalFoundries by 153.9% in the 4th quarter. Signaturefd LLC now owns 678 shares of the company's stock valued at $29,000 after acquiring an additional 411 shares in the last quarter. Blue Trust Inc. lifted its position in 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 acquiring an additional 745 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in GlobalFoundries in the 4th quarter valued at $52,000. Graney & King LLC bought a new stake in GlobalFoundries in the 4th quarter valued at $68,000. Finally, Covestor Ltd lifted its position in GlobalFoundries by 309.8% in the 4th quarter. Covestor Ltd now owns 1,680 shares of the company's stock valued at $72,000 after acquiring an additional 1,270 shares in the last quarter.

Wall Street Analysts Forecast Growth

GFS has been the topic of several recent research reports. Cantor Fitzgerald reiterated a "neutral" rating on shares of GlobalFoundries in a research note on Monday, May 5th. UBS Group lowered their price target on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Citigroup lowered their price target 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, Morgan Stanley lowered their price target on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.09.

GlobalFoundries Stock Performance

Shares of GlobalFoundries stock opened at $37.60 on Tuesday. The company has a 50 day moving average of $36.16 and a 200-day moving average of $39.18. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market cap of $20.79 billion, a PE ratio of -78.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.50.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal 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.

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