Raymond James Financial Inc. Buys New Stake in GlobalFoundries Inc. (NASDAQ:GFS)

Raymond James Financial Inc. acquired a new position in shares of GlobalFoundries Inc. (NASDAQ:GFS) during the 4th quarter, Holdings Channel reports. The fund acquired 46,754 shares of the company’s stock, valued at approximately $2,006,000.

Several other large investors have also recently modified their holdings of GFS. Signaturefd LLC lifted its stake in GlobalFoundries by 153.9% in the fourth quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the last quarter. Blue Trust Inc. boosted its position in GlobalFoundries by 206.4% during the 4th quarter. Blue Trust Inc. now owns 1,106 shares of the company’s stock valued at $45,000 after acquiring an additional 745 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in GlobalFoundries in the fourth quarter valued at about $52,000. Graney & King LLC purchased a new position in shares of GlobalFoundries in the 4th quarter worth approximately $68,000. Finally, Aster Capital Management DIFC Ltd increased its position in shares of GlobalFoundries by 305.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,102 shares of the company’s stock worth $90,000 after purchasing an additional 1,583 shares in the last quarter.

GlobalFoundries Stock Performance

NASDAQ GFS opened at $35.07 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.57. The company has a market cap of $19.39 billion, a P/E ratio of -73.06, a P/E/G ratio of 1.42 and a beta of 1.54. The stock has a 50-day moving average of $36.12 and a two-hundred day moving average of $40.09. GlobalFoundries Inc. has a 1-year low of $29.77 and a 1-year high of $61.98.

GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a negative net margin of 3.93% and a positive return on equity of 6.05%. As a group, analysts anticipate that GlobalFoundries Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

GFS has been the subject of several research reports. UBS Group lowered their price objective on shares of GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley boosted their price objective on GlobalFoundries from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Citigroup decreased their price target on shares of GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wedbush restated an “outperform” rating and set a $60.00 price target on shares of GlobalFoundries in a research report on Wednesday, February 12th. Finally, 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 report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.23.

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.