Hsbc Holdings PLC Has $2.26 Million Stock Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Hsbc Holdings PLC grew its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFSFree Report) by 302.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,369 shares of the company’s stock after purchasing an additional 28,095 shares during the period. Hsbc Holdings PLC’s holdings in GLOBALFOUNDRIES were worth $2,260,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after buying an additional 187 shares during the last quarter. Blue Trust Inc. increased its stake in shares of GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after purchasing an additional 363 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of GLOBALFOUNDRIES by 122.5% during 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 in the last quarter. Himension Capital Singapore PTE. LTD. acquired a new stake in shares of GLOBALFOUNDRIES in the 3rd quarter valued at $216,000. Finally, Oxford Asset Management LLP bought a new stake in GLOBALFOUNDRIES in the fourth quarter worth $232,000.

GLOBALFOUNDRIES Price Performance

Shares of GFS stock opened at $49.10 on Friday. The company has a market capitalization of $27.28 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.51 and a beta of 1.57. The company has a current ratio of 2.18, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22. GLOBALFOUNDRIES Inc. has a 12 month low of $45.52 and a 12 month high of $68.57. The stock has a 50 day moving average of $50.17 and a two-hundred day moving average of $53.66.

GLOBALFOUNDRIES (NASDAQ:GFSGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. As a group, equities analysts expect that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GFS shares. Susquehanna boosted their price target on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Evercore ISI began 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. HSBC dropped their price target on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Jefferies Financial Group assumed coverage on shares of GLOBALFOUNDRIES in a report on Monday, May 13th. They set a “buy” rating and a $62.00 price objective for the company. Finally, Citigroup downgraded shares of GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $56.00 in a report on Wednesday, February 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GLOBALFOUNDRIES presently has an average rating of “Moderate Buy” and a consensus target price of $60.62.

Read Our Latest Stock Analysis on GFS

GLOBALFOUNDRIES Profile

(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.

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Institutional Ownership by Quarter for GLOBALFOUNDRIES (NASDAQ:GFS)

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