Toronto Dominion Bank Raises Holdings in GlobalFoundries Inc. (NASDAQ:GFS)

Toronto Dominion Bank raised its position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 110.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,500 shares of the company's stock after purchasing an additional 8,649 shares during the period. Toronto Dominion Bank's holdings in GlobalFoundries were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its holdings in GlobalFoundries by 7.5% in the fourth quarter. FMR LLC now owns 53,096,556 shares of the company's stock valued at $2,278,373,000 after buying an additional 3,721,153 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of GlobalFoundries by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,118,293 shares of the company's stock valued at $133,806,000 after acquiring an additional 40,527 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in GlobalFoundries by 5.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,473,170 shares of the company's stock worth $106,124,000 after purchasing an additional 132,634 shares during the last quarter. Invesco Ltd. boosted its holdings in GlobalFoundries by 10.5% in the fourth quarter. Invesco Ltd. now owns 2,331,811 shares of the company's stock valued at $100,058,000 after purchasing an additional 221,731 shares in the last quarter. Finally, Analog Century Management LP acquired a new position in GlobalFoundries in the fourth quarter valued at approximately $50,298,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GFS. Morgan Stanley reduced their price objective on shares of GlobalFoundries from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Citigroup decreased their price objective on shares of GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wedbush reiterated an "outperform" rating and set a $60.00 target price on shares of GlobalFoundries in a research report on Wednesday, February 12th. UBS Group reduced their target price on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Needham & Company LLC upgraded GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, GlobalFoundries presently has an average rating of "Moderate Buy" and an average price target of $47.09.

GlobalFoundries Stock Performance

Shares of GFS stock traded up $0.12 during midday trading on Monday, hitting $35.92. The company had a trading volume of 1,399,477 shares, compared to its average volume of 1,815,586. The stock has a market cap of $19.86 billion, a price-to-earnings ratio of -74.83, a PEG ratio of 1.42 and a beta of 1.54. 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 simple moving average is $35.53 and its 200 day simple moving average is $39.57. GlobalFoundries Inc. has a 52-week low of $29.77 and a 52-week high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. Research analysts anticipate that GlobalFoundries Inc. will post 1.31 earnings per share 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.