Raymond James Financial Inc. Buys Shares of 46,754 GlobalFoundries Inc. (NASDAQ:GFS)

Raymond James Financial Inc. purchased a new position in GlobalFoundries Inc. (NASDAQ:GFS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 46,754 shares of the company's stock, valued at approximately $2,006,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in GlobalFoundries by 41.0% in the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company's stock valued at $64,000 after buying an additional 463 shares during the last quarter. Private Advisor Group LLC lifted its stake 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 during the period. Royal London Asset Management Ltd. boosted its holdings in shares of GlobalFoundries by 1.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 35,275 shares of the company's stock valued at $1,420,000 after acquiring an additional 510 shares during the last quarter. Wahed Invest LLC increased its stake in shares of GlobalFoundries by 37.4% in the third quarter. Wahed Invest LLC now owns 2,386 shares of the company's stock worth $96,000 after acquiring an additional 650 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of GlobalFoundries by 206.4% during the fourth quarter. Blue Trust Inc. now owns 1,106 shares of the company's stock worth $45,000 after purchasing an additional 745 shares during the last quarter.

GlobalFoundries Price Performance

Shares of GFS stock traded down $2.81 during trading hours on Thursday, hitting $34.37. 4,705,404 shares of the company's stock were exchanged, compared to its average volume of 1,802,906. GlobalFoundries Inc. has a fifty-two week low of $34.31 and a fifty-two week high of $61.98. The firm has a market cap of $19.00 billion, a P/E ratio of -71.60, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a quick ratio of 1.57, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $39.72 and a two-hundred day moving average of $41.04.

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GlobalFoundries (NASDAQ:GFS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.38 EPS 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%. Sell-side analysts forecast that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC raised shares of GlobalFoundries from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Wednesday, February 12th. Morgan Stanley upped their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, UBS Group lowered their price objective on GlobalFoundries from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.64.

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.