Nomura Asset Management Co. Ltd. Has $1.03 Million Stock Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Nomura Asset Management Co. Ltd. raised its stake in GLOBALFOUNDRIES Inc. (NASDAQ:GFSFree Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,963 shares of the company’s stock after buying an additional 1,943 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in GLOBALFOUNDRIES were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GFS. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of GLOBALFOUNDRIES by 50.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after acquiring an additional 187 shares during the last quarter. Blue Trust Inc. raised its stake in shares of GLOBALFOUNDRIES by 31.6% during the fourth quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock valued at $88,000 after acquiring an additional 363 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of GLOBALFOUNDRIES by 122.5% during the third quarter. Toronto Dominion Bank now owns 3,473 shares of the company’s stock valued at $202,000 after acquiring an additional 1,912 shares during the last quarter. Himension Capital Singapore PTE. LTD. bought a new position in shares of GLOBALFOUNDRIES during the third quarter valued at $216,000. Finally, Headlands Technologies LLC bought a new position in GLOBALFOUNDRIES during the third quarter worth $225,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GFS shares. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday, May 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price (down previously from $70.00) on shares of GLOBALFOUNDRIES in a research note on Monday, April 8th. Morgan Stanley lifted their target price on shares of GLOBALFOUNDRIES from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Jefferies Financial Group started coverage on shares of GLOBALFOUNDRIES in a research note on Monday, May 13th. They set a “buy” rating and a $62.00 target price for the company. Finally, HSBC lowered their target price on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.62.

Get Our Latest Stock Analysis on GFS

GLOBALFOUNDRIES Stock Down 0.5 %

Shares of NASDAQ GFS opened at $49.00 on Friday. The stock has a market capitalization of $27.22 billion, a P/E ratio of 30.25, a P/E/G ratio of 4.61 and a beta of 1.61. The company has a 50-day moving average price of $50.41 and a 200-day moving average price of $53.85. GLOBALFOUNDRIES Inc. has a 1 year low of $45.52 and a 1 year high of $68.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.59.

GLOBALFOUNDRIES (NASDAQ:GFSGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. On average, equities research analysts forecast that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current fiscal year.

About GLOBALFOUNDRIES

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GLOBALFOUNDRIES (NASDAQ:GFS)

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