GAMMA Investing LLC Grows Position in GlobalFoundries Inc. (NASDAQ:GFS)

GAMMA Investing LLC increased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 9,009.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,139 shares of the company’s stock after buying an additional 23,874 shares during the period. GAMMA Investing LLC’s holdings in GlobalFoundries were worth $891,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GFS. Treasurer of the State of North Carolina lifted its holdings in GlobalFoundries by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,238 shares of the company’s stock valued at $1,855,000 after acquiring an additional 280 shares during the period. Signaturefd LLC increased its position in GlobalFoundries by 153.9% during the 4th quarter. Signaturefd LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares in the last quarter. Mariner LLC increased its position in GlobalFoundries by 5.5% during the 4th quarter. Mariner LLC now owns 8,111 shares of the company’s stock worth $348,000 after purchasing an additional 420 shares in the last quarter. American Century Companies Inc. increased its position in GlobalFoundries by 1.7% during the 4th quarter. American Century Companies Inc. now owns 25,949 shares of the company’s stock worth $1,113,000 after purchasing an additional 438 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in GlobalFoundries by 7.5% during the 4th quarter. Private Advisor Group LLC now owns 6,698 shares of the company’s stock worth $287,000 after purchasing an additional 468 shares in the last quarter.

GlobalFoundries Stock Up 2.4%

Shares of GFS opened at $37.60 on Tuesday. GlobalFoundries Inc. has a 12 month low of $29.77 and a 12 month high of $61.98. The company has a current ratio of 2.11, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $36.16 and its two-hundred day moving average price is $39.18. The company has a market capitalization of $20.79 billion, a PE ratio of -78.33, a PEG ratio of 1.42 and a beta of 1.50.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. GlobalFoundries had a positive return on equity of 6.05% and a negative net margin of 3.93%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. On average, 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 a number of research reports. Citigroup decreased their target price on GlobalFoundries from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 11th. UBS Group dropped their price target on GlobalFoundries from $45.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Cantor Fitzgerald restated a “neutral” rating on shares of GlobalFoundries in a research note on Monday, May 5th. Finally, Morgan Stanley decreased their price target on GlobalFoundries from $42.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.09.

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.