Trek Financial LLC Boosts Holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Trek Financial LLC increased its stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 58.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,160 shares of the company’s stock after buying an additional 8,138 shares during the period. Trek Financial LLC’s holdings in GLOBALFOUNDRIES were worth $1,600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GFS. Private Advisor Group LLC purchased a new stake in GLOBALFOUNDRIES in the 1st quarter worth about $843,000. Barclays PLC lifted its stake in shares of GLOBALFOUNDRIES by 95.4% during the 1st quarter. Barclays PLC now owns 239,258 shares of the company’s stock valued at $17,270,000 after buying an additional 116,813 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of GLOBALFOUNDRIES by 69.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,881 shares of the company’s stock valued at $1,341,000 after buying an additional 10,238 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of GLOBALFOUNDRIES by 90.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,525 shares of the company’s stock valued at $463,000 after buying an additional 3,107 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in GLOBALFOUNDRIES during the 1st quarter valued at $279,000. 14.76% of the stock is owned by institutional investors.

GLOBALFOUNDRIES Stock Performance

GLOBALFOUNDRIES stock opened at $57.99 on Friday. GLOBALFOUNDRIES Inc. has a fifty-two week low of $46.52 and a fifty-two week high of $72.50. The firm’s fifty day moving average price is $59.71 and its 200-day moving average price is $61.50. The stock has a market cap of $31.76 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 9.28 and a beta of 1.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.44 and a current ratio of 1.98.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.45 earnings per share (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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. On average, equities research analysts expect that GLOBALFOUNDRIES Inc. will post 1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GFS has been the topic of a number of analyst reports. Susquehanna lowered their target price on shares of GLOBALFOUNDRIES from $84.00 to $82.00 and set a “positive” rating on the stock in a report on Friday, August 4th. Citigroup cut their target price on GLOBALFOUNDRIES from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Wedbush restated an “outperform” rating and issued a $70.00 target price (down previously from $72.00) on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 9th. Wolfe Research began coverage on shares of GLOBALFOUNDRIES in a report on Wednesday, July 19th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of GLOBALFOUNDRIES from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GLOBALFOUNDRIES currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.19.

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.