Strs Ohio Acquires 3,484 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Strs Ohio lifted its holdings in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 26.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,711 shares of the company’s stock after acquiring an additional 3,484 shares during the quarter. Strs Ohio’s holdings in GLOBALFOUNDRIES were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in GLOBALFOUNDRIES by 442.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock valued at $52,000 after purchasing an additional 730 shares during the period. Advisors Preferred LLC bought a new stake in GLOBALFOUNDRIES in the 3rd quarter valued at $58,000. Blue Trust Inc. boosted its stake in GLOBALFOUNDRIES by 31.6% in the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after purchasing an additional 363 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in GLOBALFOUNDRIES by 230.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock valued at $119,000 after purchasing an additional 1,423 shares during the period. Finally, Toronto Dominion Bank boosted its stake in GLOBALFOUNDRIES by 122.5% in the 3rd quarter. Toronto Dominion Bank now owns 3,473 shares of the company’s stock valued at $202,000 after purchasing an additional 1,912 shares during the period.

GLOBALFOUNDRIES Price Performance

GLOBALFOUNDRIES stock opened at $46.35 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.04. GLOBALFOUNDRIES Inc. has a 52 week low of $45.52 and a 52 week high of $68.57. The stock has a market capitalization of $25.39 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.91 and a beta of 1.61. The stock has a fifty day moving average of $51.76 and a 200-day moving average of $54.39.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, sell-side analysts expect that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 target price (down from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. Evercore ISI assumed coverage on GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 target price for the company. Robert W. Baird cut their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut their target price on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, Susquehanna reiterated a “neutral” rating and set a $48.00 target price (down from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.08.

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.