Raymond James Financial Inc. bought a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,754 shares of the company's stock, valued at approximately $2,006,000.
A number of other institutional investors have also recently modified their holdings of the business. Signaturefd LLC boosted its position in shares of GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company's stock worth $29,000 after acquiring an additional 411 shares during the last quarter. American Century Companies Inc. grew its stake in shares of GlobalFoundries by 1.7% during the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company's stock valued at $1,113,000 after buying an additional 438 shares during the period. Private Advisor Group LLC raised its position in shares of GlobalFoundries by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company's stock worth $287,000 after buying an additional 468 shares during the period. X Square Capital LLC boosted its holdings in GlobalFoundries by 2.0% in the fourth quarter. X Square Capital LLC now owns 24,813 shares of the company's stock valued at $1,065,000 after acquiring an additional 484 shares during the last quarter. Finally, Sei Investments Co. grew its position in GlobalFoundries by 7.6% during the fourth quarter. Sei Investments Co. now owns 9,495 shares of the company's stock valued at $407,000 after acquiring an additional 667 shares during the period.
GlobalFoundries Stock Performance
GlobalFoundries stock traded up $1.22 during trading hours on Friday, hitting $36.40. The stock had a trading volume of 1,505,619 shares, compared to its average volume of 1,864,404. GlobalFoundries Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $61.98. The company has a market cap of $20.13 billion, a PE ratio of -75.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The company has a 50-day moving average of $35.91 and a two-hundred day moving average of $40.02. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.
GlobalFoundries (NASDAQ:GFS - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. On average, equities research analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GFS. Needham & Company LLC upgraded shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Wednesday, February 12th. Citigroup cut their price objective on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Morgan Stanley increased their target price on GlobalFoundries from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. UBS Group reduced their price target on GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.67.
Check Out Our Latest Analysis on GlobalFoundries
GlobalFoundries Company Profile
(
Free Report)
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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