SG Americas Securities LLC Buys Shares of 40,729 GlobalFoundries Inc. (NASDAQ:GFS)

SG Americas Securities LLC bought a new position in shares of GlobalFoundries Inc. (NASDAQ:GFSFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,729 shares of the company’s stock, valued at approximately $1,748,000.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in GlobalFoundries during the 3rd quarter worth approximately $34,000. US Bancorp DE grew its holdings in shares of GlobalFoundries by 77.0% in the 3rd quarter. US Bancorp DE now owns 1,218 shares of the company’s stock valued at $49,000 after buying an additional 530 shares during the period. AM Squared Ltd acquired a new position in shares of GlobalFoundries in the 3rd quarter valued at $60,000. Advisors Asset Management Inc. increased its position in shares of GlobalFoundries by 41.0% in the 3rd 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 in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in GlobalFoundries during the 3rd quarter worth $66,000.

GlobalFoundries Price Performance

Shares of GFS opened at $41.67 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.76 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $43.09 and its 200 day simple moving average is $43.51. GlobalFoundries Inc. has a 1-year low of $35.85 and a 1-year high of $61.98. The company has a market cap of $22.99 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 9.26 and a beta of 1.57.

GlobalFoundries (NASDAQ:GFSGet Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm earned $0.47 EPS. GlobalFoundries’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, research analysts forecast that GlobalFoundries Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on GFS shares. Wedbush restated an “outperform” rating and issued a $60.00 price target (down from $65.00) on shares of GlobalFoundries in a report on Tuesday, November 5th. Robert W. Baird lowered their target price on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. UBS Group assumed coverage on shares of GlobalFoundries in a research note on Wednesday, November 20th. They issued a “neutral” rating and a $47.00 price target on the stock. Morgan Stanley downgraded shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $53.00 to $43.00 in a research report on Monday, October 28th. Finally, Susquehanna reduced their target price on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.21.

Check Out Our Latest Stock Report on GlobalFoundries

About GlobalFoundries

(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.

See Also

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Institutional Ownership by Quarter for GlobalFoundries (NASDAQ:GFS)

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