GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,416 shares of the company’s stock after purchasing an additional 4,845 shares during the period. Vanguard Group Inc.’s holdings in GLOBALFOUNDRIES were worth $13,153,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of GLOBALFOUNDRIES by 11.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,840 shares of the company’s stock valued at $475,000 after purchasing an additional 780 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of GLOBALFOUNDRIES by 16.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 7,582 shares of the company’s stock worth $463,000 after acquiring an additional 1,058 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of GLOBALFOUNDRIES during the fourth quarter valued at approximately $272,000. Louisiana State Employees Retirement System purchased a new stake in shares of GLOBALFOUNDRIES in the 4th quarter valued at approximately $2,636,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in GLOBALFOUNDRIES by 10.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 70,675 shares of the company’s stock worth $4,283,000 after purchasing an additional 6,743 shares during the period.

GLOBALFOUNDRIES Stock Performance

Shares of GFS opened at $44.86 on Wednesday. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 4.52 and a beta of 1.56. The company’s fifty day moving average is $50.48 and its 200-day moving average is $51.41. The company has a quick ratio of 1.59, a current ratio of 2.18 and a debt-to-equity ratio of 0.22. GLOBALFOUNDRIES Inc. has a 12 month low of $42.59 and a 12 month high of $62.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.28 by $0.10. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The business’s quarterly revenue was down 11.5% on a year-over-year basis. Equities analysts expect that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on GFS shares. Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on GLOBALFOUNDRIES in a research report on Monday, May 13th. They set a “buy” rating and a $62.00 price target on the stock. Bank of America decreased their price objective on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Evercore ISI lowered their target price on GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a research report on Wednesday, August 7th. Seven equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.54.

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.