Treasurer of the State of North Carolina Acquires 340 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Treasurer of the State of North Carolina grew its holdings in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFSFree Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,789 shares of the company’s stock after purchasing an additional 340 shares during the period. Treasurer of the State of North Carolina’s holdings in GLOBALFOUNDRIES were worth $2,108,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GFS. FMR LLC raised its stake in GLOBALFOUNDRIES by 18.7% in the third quarter. FMR LLC now owns 35,205,461 shares of the company’s stock valued at $2,048,606,000 after purchasing an additional 5,544,907 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of GLOBALFOUNDRIES by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,160,878 shares of the company’s stock worth $183,931,000 after acquiring an additional 838,355 shares during the period. International Assets Investment Management LLC boosted its position in shares of GLOBALFOUNDRIES by 5,093.1% during the 4th quarter. International Assets Investment Management LLC now owns 531,462 shares of the company’s stock worth $32,207,000 after acquiring an additional 521,228 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in GLOBALFOUNDRIES by 124.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock valued at $29,581,000 after acquiring an additional 270,520 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in GLOBALFOUNDRIES by 149.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 475,704 shares of the company’s stock valued at $27,681,000 after acquiring an additional 285,000 shares during the last quarter.

GLOBALFOUNDRIES Price Performance

Shares of NASDAQ:GFS opened at $49.10 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 2.18. GLOBALFOUNDRIES Inc. has a 52 week low of $45.52 and a 52 week high of $68.57. The firm has a market cap of $27.28 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 4.51 and a beta of 1.57. The firm’s fifty day moving average is $50.17 and its 200-day moving average is $53.66.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on GFS. Citigroup downgraded GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $56.00 in a report on Wednesday, February 14th. Robert W. Baird decreased their target price on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. Susquehanna lifted their price target on shares of GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Jefferies Financial Group initiated coverage on shares of GLOBALFOUNDRIES in a research report on Monday, May 13th. They set a “buy” rating and a $62.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, GLOBALFOUNDRIES currently has a consensus rating of “Moderate Buy” and an average price target of $60.62.

Check Out Our Latest Stock Analysis on GFS

GLOBALFOUNDRIES Company 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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