LPL Financial LLC lessened its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Free Report) by 38.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 45,208 shares of the company’s stock after selling 28,206 shares during the period. LPL Financial LLC’s holdings in GLOBALFOUNDRIES were worth $3,263,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis bought a new stake in GLOBALFOUNDRIES during the 4th quarter worth approximately $38,000. Belpointe Asset Management LLC purchased a new stake in GLOBALFOUNDRIES in the 4th quarter valued at $44,000. Signaturefd LLC raised its position in GLOBALFOUNDRIES by 283.0% in the 1st quarter. Signaturefd LLC now owns 697 shares of the company’s stock valued at $50,000 after buying an additional 515 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in GLOBALFOUNDRIES during the 1st quarter valued at $65,000. Finally, Toronto Dominion Bank purchased a new position in GLOBALFOUNDRIES during the 4th quarter worth $83,000. Institutional investors own 14.76% of the company’s stock.
Analyst Upgrades and Downgrades
GFS has been the subject of several analyst reports. Susquehanna lowered their target price on shares of GLOBALFOUNDRIES from $84.00 to $82.00 and set a “positive” rating for the company in a report on Friday, August 4th. Wedbush reissued an “outperform” rating and set a $70.00 target price (down previously from $72.00) on shares of GLOBALFOUNDRIES in a research report on Wednesday, August 9th. TD Cowen reduced their target price on GLOBALFOUNDRIES from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 10th. Citigroup dropped their price target on GLOBALFOUNDRIES from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, Bank of America cut their price objective on GLOBALFOUNDRIES from $75.00 to $70.00 in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, GLOBALFOUNDRIES has an average rating of “Moderate Buy” and an average target price of $76.19.
GLOBALFOUNDRIES Trading Up 0.3 %
Shares of GFS stock opened at $55.44 on Tuesday. The stock has a market capitalization of $30.37 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 9.10 and a beta of 1.88. The company’s fifty day simple moving average is $60.25 and its two-hundred day simple moving average is $61.73. GLOBALFOUNDRIES Inc. has a 1 year low of $46.52 and a 1 year high of $72.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 1.44.
GLOBALFOUNDRIES (NASDAQ:GFS – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. GLOBALFOUNDRIES had a return on equity of 16.16% and a net margin of 19.07%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. As a group, 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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