Toronto Dominion Bank Decreases Position in GlobalFoundries Inc. (NASDAQ:GFS)

Toronto Dominion Bank reduced its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 29.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,040 shares of the company’s stock after selling 2,095 shares during the period. Toronto Dominion Bank’s holdings in GlobalFoundries were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GFS. Massmutual Trust Co. FSB ADV acquired a new position in GlobalFoundries in the 2nd quarter valued at about $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GlobalFoundries during the second quarter worth about $65,000. CWM LLC lifted its position in GlobalFoundries by 38.6% in the second quarter. CWM LLC now owns 1,339 shares of the company’s stock valued at $68,000 after purchasing an additional 373 shares during the period. Lazard Asset Management LLC raised its stake in shares of GlobalFoundries by 47.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock worth $127,000 after buying an additional 786 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of GlobalFoundries by 128.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock worth $129,000 after buying an additional 1,391 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen decreased their price objective on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of GlobalFoundries in a report on Wednesday, August 7th. Evercore ISI dropped their price objective on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of GlobalFoundries in a research report on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, GlobalFoundries has an average rating of “Moderate Buy” and an average price target of $57.54.

GlobalFoundries Stock Down 1.7 %

Shares of GlobalFoundries stock opened at $40.25 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. GlobalFoundries Inc. has a 1-year low of $38.49 and a 1-year high of $62.61. The business has a 50-day moving average of $44.42 and a 200-day moving average of $48.64. The company has a market capitalization of $22.21 billion, a PE ratio of 24.85, a P/E/G ratio of 6.36 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. As a group, equities analysts forecast that GlobalFoundries Inc. will post 1.09 EPS for the current fiscal year.

About GlobalFoundries

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.