Tower Research Capital LLC TRC Buys 12,142 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Tower Research Capital LLC TRC raised its stake in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) by 121.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,155 shares of the company's stock after purchasing an additional 12,142 shares during the period. Tower Research Capital LLC TRC's holdings in GlobalFoundries were worth $951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in GlobalFoundries during the fourth quarter worth $52,000. SG Americas Securities LLC bought a new stake in GlobalFoundries in the fourth quarter valued at about $1,748,000. US Bancorp DE raised its position in GlobalFoundries by 187.2% in the fourth quarter. US Bancorp DE now owns 3,498 shares of the company's stock worth $150,000 after purchasing an additional 2,280 shares in the last quarter. Geode Capital Management LLC lifted its stake in GlobalFoundries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 912,986 shares of the company's stock worth $39,176,000 after purchasing an additional 16,921 shares during the period. Finally, Polianta Ltd acquired a new stake in GlobalFoundries during the fourth quarter valued at approximately $1,317,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. 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 report on Wednesday, February 12th. UBS Group dropped their target price on shares of GlobalFoundries from $45.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday. Wedbush restated an "outperform" rating and issued a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Finally, Citigroup reduced their target price on GlobalFoundries from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, GlobalFoundries has an average rating of "Moderate Buy" and a consensus price target of $48.23.

GlobalFoundries Trading Up 0.3 %

Shares of GlobalFoundries stock traded up $0.09 during trading on Wednesday, hitting $34.74. 691,697 shares of the company were exchanged, compared to its average volume of 1,857,341. The firm has a market capitalization of $19.21 billion, a P/E ratio of -72.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.54. The firm's fifty day moving average price is $36.27 and its 200 day moving average price is $40.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last posted its earnings results 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 positive return on equity of 6.05% and a negative net margin of 3.93%. As a group, sell-side analysts expect 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.