California State Teachers Retirement System lowered its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Free Report) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,736 shares of the company’s stock after selling 1,732 shares during the period. California State Teachers Retirement System’s holdings in GLOBALFOUNDRIES were worth $1,713,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of GLOBALFOUNDRIES by 95.4% in the first quarter. Barclays PLC now owns 239,258 shares of the company’s stock valued at $17,270,000 after purchasing an additional 116,813 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of GLOBALFOUNDRIES by 69.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,881 shares of the company’s stock valued at $1,341,000 after purchasing an additional 10,238 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of GLOBALFOUNDRIES by 90.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,525 shares of the company’s stock valued at $463,000 after purchasing an additional 3,107 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of GLOBALFOUNDRIES in the first quarter valued at approximately $279,000. Finally, Alight Capital Management LP lifted its holdings in shares of GLOBALFOUNDRIES by 50.0% in the fourth quarter. Alight Capital Management LP now owns 30,000 shares of the company’s stock valued at $1,617,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 14.76% of the company’s stock.
Analysts Set New Price Targets
GFS has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $70.00 target price (down previously from $72.00) on shares of GLOBALFOUNDRIES in a report on Wednesday, August 9th. Susquehanna dropped their price target on GLOBALFOUNDRIES from $84.00 to $82.00 and set a “positive” rating on the stock in a report on Friday, August 4th. Morgan Stanley dropped their price target on GLOBALFOUNDRIES from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, August 9th. HSBC dropped their price target on GLOBALFOUNDRIES from $65.00 to $64.00 in a report on Wednesday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on GLOBALFOUNDRIES from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.19.
GLOBALFOUNDRIES Price Performance
Shares of NASDAQ GFS opened at $54.53 on Wednesday. The stock has a market cap of $29.87 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 8.62 and a beta of 1.85. GLOBALFOUNDRIES Inc. has a fifty-two week low of $46.52 and a fifty-two week high of $72.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.44 and a current ratio of 1.98. The stock has a fifty day moving average of $60.57 and a 200-day moving average of $62.12.
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. GLOBALFOUNDRIES had a return on equity of 16.16% and a net margin of 19.07%. Equities research analysts anticipate that GLOBALFOUNDRIES Inc. will post 1.9 earnings per share for the current year.
GLOBALFOUNDRIES Company Profile
GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.
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