GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFSGet Rating) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,256 shares of the company’s stock after acquiring an additional 191 shares during the period. Janney Montgomery Scott LLC’s holdings in GLOBALFOUNDRIES were worth $641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC increased its position in GLOBALFOUNDRIES by 16.4% during the first quarter. HighTower Advisors LLC now owns 4,455 shares of the company’s stock worth $277,000 after buying an additional 627 shares during the period. Allspring Global Investments Holdings LLC increased its position in GLOBALFOUNDRIES by 6.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,211 shares of the company’s stock worth $411,000 after buying an additional 652 shares during the period. Wahed Invest LLC acquired a new position in GLOBALFOUNDRIES during the second quarter worth approximately $27,000. Charles Schwab Investment Management Inc. increased its position in GLOBALFOUNDRIES by 12.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,671 shares of the company’s stock worth $417,000 after buying an additional 734 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new position in GLOBALFOUNDRIES during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 16.08% of the company’s stock.

GLOBALFOUNDRIES Stock Up 1.6 %

GLOBALFOUNDRIES stock opened at $56.45 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.45 and a quick ratio of 1.10. GLOBALFOUNDRIES Inc. has a 1-year low of $36.81 and a 1-year high of $79.49. The company has a market cap of $30.02 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 0.62 and a beta of 2.19. The stock’s 50 day moving average price is $60.00 and its 200 day moving average price is $56.28.

GLOBALFOUNDRIES (NASDAQ:GFSGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. GLOBALFOUNDRIES had a return on equity of 9.65% and a net margin of 10.48%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.05 billion. On average, sell-side analysts predict that GLOBALFOUNDRIES Inc. will post 2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on GFS. Deutsche Bank Aktiengesellschaft lifted their price target on GLOBALFOUNDRIES from $67.00 to $70.00 in a research report on Wednesday, December 14th. Needham & Company LLC lifted their price target on GLOBALFOUNDRIES from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 9th. Susquehanna Bancshares lifted their price target on GLOBALFOUNDRIES from $75.00 to $80.00 in a research report on Wednesday, November 9th. Credit Suisse Group reiterated an “outperform” rating and issued a $78.00 target price on shares of GLOBALFOUNDRIES in a research note on Wednesday, November 16th. Finally, Bank of America lifted their target price on GLOBALFOUNDRIES from $75.00 to $80.00 in a research note on Wednesday, November 9th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, GLOBALFOUNDRIES currently has an average rating of “Buy” and an average price target of $73.15.

About GLOBALFOUNDRIES

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GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies.

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Institutional Ownership by Quarter for GLOBALFOUNDRIES (NASDAQ:GFS)

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