GlobalFoundries Inc. (NASDAQ:GFS) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 55.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,851 shares of the company’s stock after purchasing an additional 2,811 shares during the period. Toronto Dominion Bank’s holdings in GlobalFoundries were worth $316,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings in GlobalFoundries by 108.6% in the second quarter. Marshall Wace LLP now owns 2,496,871 shares of the company’s stock worth $126,242,000 after acquiring an additional 1,299,687 shares during the last quarter. FMR LLC boosted its holdings in shares of GlobalFoundries by 2.4% during the third quarter. FMR LLC now owns 49,375,403 shares of the company’s stock valued at $1,987,360,000 after acquiring an additional 1,160,403 shares during the period. Renaissance Technologies LLC grew its position in shares of GlobalFoundries by 267.7% during the second quarter. Renaissance Technologies LLC now owns 354,049 shares of the company’s stock worth $17,901,000 after acquiring an additional 257,749 shares during the last quarter. Weiss Asset Management LP bought a new stake in GlobalFoundries in the 3rd quarter valued at about $8,361,000. Finally, Ghisallo Capital Management LLC boosted its stake in GlobalFoundries by 200.0% during the 2nd quarter. Ghisallo Capital Management LLC now owns 300,000 shares of the company’s stock valued at $15,168,000 after purchasing an additional 200,000 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GFS shares. UBS Group began 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. Susquehanna lowered their target price on GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of GlobalFoundries in a research report on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $60.00 price target (down previously from $65.00) on shares of GlobalFoundries in a research note on Tuesday, November 5th. Finally, Evercore ISI cut their price objective on shares of GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.21.

GlobalFoundries Price Performance

Shares of NASDAQ GFS opened at $43.93 on Tuesday. GlobalFoundries Inc. has a twelve month low of $35.85 and a twelve month high of $62.61. 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 firm has a 50-day moving average of $41.81 and a two-hundred day moving average of $45.13. The company has a market capitalization of $24.24 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 10.71 and a beta of 1.59.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, November 5th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. As a group, analysts expect that GlobalFoundries Inc. will post 1.22 earnings per share for the current fiscal year.

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.