Raymond James Financial Inc. Invests $2.01 Million in GlobalFoundries Inc. (NASDAQ:GFS)

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

Several other institutional investors have also bought and sold shares of GFS. Blue Trust Inc. raised its stake in 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 acquiring an additional 745 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of GlobalFoundries during the 4th quarter worth about $52,000. Advisors Asset Management Inc. grew its stake in GlobalFoundries by 41.0% during the third quarter. Advisors Asset Management Inc. now owns 1,593 shares of the company’s stock worth $64,000 after buying an additional 463 shares during the last quarter. Wahed Invest LLC grew its stake in GlobalFoundries by 37.4% during the third quarter. Wahed Invest LLC now owns 2,386 shares of the company’s stock worth $96,000 after buying an additional 650 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of GlobalFoundries by 187.2% during the fourth quarter. US Bancorp DE now owns 3,498 shares of the company’s stock worth $150,000 after buying an additional 2,280 shares in the last quarter.

GlobalFoundries Stock Down 3.0 %

Shares of NASDAQ:GFS opened at $36.89 on Monday. 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 stock has a market cap of $20.40 billion, a price-to-earnings ratio of -76.85, a P/E/G ratio of 1.42 and a beta of 1.57. The company has a 50 day moving average of $40.23 and a 200-day moving average of $41.16. GlobalFoundries Inc. has a one year low of $35.85 and a one 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 (EPS) 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%. On average, sell-side analysts forecast that GlobalFoundries Inc. will post 1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GFS shares. Morgan Stanley boosted their target price on GlobalFoundries from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of GlobalFoundries in a report on Wednesday, February 12th. Needham & Company LLC raised shares of GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Wednesday, February 12th. Finally, UBS Group dropped their target price on shares of GlobalFoundries from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.64.

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.