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

Toronto Dominion Bank lifted its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 110.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its position in GlobalFoundries by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock valued at $1,855,000 after acquiring an additional 280 shares in the last quarter. Signaturefd LLC boosted its position in GlobalFoundries by 153.9% during 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. Mariner LLC boosted its position in GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company’s stock valued at $348,000 after acquiring an additional 420 shares in the last quarter. American Century Companies Inc. boosted its position in 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 acquiring an additional 438 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock valued at $287,000 after acquiring an additional 468 shares in the last quarter.

GlobalFoundries Trading Down 2.5%

NASDAQ:GFS opened at $36.55 on Friday. GlobalFoundries Inc. has a 52 week low of $29.77 and a 52 week high of $61.98. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of -76.14, a PEG ratio of 1.42 and a beta of 1.54. The company’s 50 day moving average price is $35.75 and its 200-day moving average price is $39.82. 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) last issued its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $1.59 billion for 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 was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. On average, equities research analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

GFS has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of GlobalFoundries in a research report on Wednesday, February 12th. Morgan Stanley dropped their price objective 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. Cantor Fitzgerald reissued a “neutral” rating on shares of GlobalFoundries in a research note on Monday, May 5th. UBS Group dropped their price objective 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. Finally, Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.09.

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.