4,483 Shares in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Purchased by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,483 shares of the company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GFS. PNC Financial Services Group Inc. raised its position in GLOBALFOUNDRIES by 442.4% in the third quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock worth $52,000 after acquiring an additional 730 shares during the period. Advisors Preferred LLC bought a new stake in GLOBALFOUNDRIES in the third quarter worth about $58,000. Blue Trust Inc. raised its position in GLOBALFOUNDRIES by 31.6% in the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after acquiring an additional 363 shares during the period. China Universal Asset Management Co. Ltd. raised its position in GLOBALFOUNDRIES by 230.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock worth $119,000 after acquiring an additional 1,423 shares during the period. Finally, Toronto Dominion Bank raised its position in GLOBALFOUNDRIES by 122.5% in the third quarter. Toronto Dominion Bank now owns 3,473 shares of the company’s stock worth $202,000 after acquiring an additional 1,912 shares during the period.

GLOBALFOUNDRIES Price Performance

Shares of NASDAQ:GFS opened at $48.39 on Monday. The company has a 50 day moving average of $51.38 and a 200 day moving average of $54.19. The stock has a market cap of $26.51 billion, a P/E ratio of 26.30, a P/E/G ratio of 4.09 and a beta of 1.61. GLOBALFOUNDRIES Inc. has a 12 month low of $45.52 and a 12 month high of $68.57. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. 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 previous year, the company earned $1.37 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that GLOBALFOUNDRIES Inc. will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Robert W. Baird lowered their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Susquehanna reissued a “neutral” rating and issued a $48.00 price target (down previously from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target on the stock. Finally, Citigroup lowered shares of GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $56.00 in a research report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.08.

GLOBALFOUNDRIES 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.