GlobalFoundries Inc. (NASDAQ:GFS) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 110.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,500 shares of the company's stock after acquiring an additional 8,649 shares during the quarter. Toronto Dominion Bank's holdings in GlobalFoundries were worth $708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rafferty Asset Management LLC boosted its position in GlobalFoundries by 3.4% during the fourth quarter. Rafferty Asset Management LLC now owns 308,042 shares of the company's stock valued at $13,218,000 after purchasing an additional 10,236 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of GlobalFoundries by 20.8% during the fourth quarter. ProShare Advisors LLC now owns 637,867 shares of the company's stock valued at $27,371,000 after buying an additional 109,722 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of GlobalFoundries in the 4th quarter valued at about $423,000. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of GlobalFoundries by 6.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 174,741 shares of the company's stock valued at $7,720,000 after buying an additional 10,902 shares in the last quarter. Finally, Maytus Capital Management LLC grew its position in shares of GlobalFoundries by 50.6% in the 4th quarter. Maytus Capital Management LLC now owns 128,000 shares of the company's stock worth $5,492,000 after buying an additional 43,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GFS. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of GlobalFoundries in a report on Wednesday, February 12th. Cantor Fitzgerald reissued a "neutral" rating on shares of GlobalFoundries in a research report on Monday, May 5th. Morgan Stanley reduced their target price 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 decreased their price target 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Stock Performance

GFS traded down $0.62 on Friday, reaching $36.29. 255,378 shares of the stock were exchanged, compared to its average volume of 1,811,391. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The company's 50-day moving average price is $35.60 and its 200 day moving average price is $39.65. The firm has a market capitalization of $20.07 billion, a PE ratio of -75.68, a PEG ratio of 1.42 and a beta of 1.54. GlobalFoundries Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $61.98.

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