Global Assets Advisory LLC Purchases New Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Global Assets Advisory LLC purchased a new position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,394 shares of the company’s stock, valued at approximately $594,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GFS. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of GLOBALFOUNDRIES by 50.4% during the 4th 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 period. Blue Trust Inc. lifted its position in shares of GLOBALFOUNDRIES by 31.6% during the 4th 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 period. Toronto Dominion Bank increased its stake in 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. Oxford Asset Management LLP bought a new stake in GLOBALFOUNDRIES during the 4th quarter valued at $232,000. Finally, Cerity Partners LLC bought a new stake in GLOBALFOUNDRIES during the 4th quarter valued at $272,000.

GLOBALFOUNDRIES Stock Down 0.4 %

GFS stock opened at $50.64 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $50.18 and its 200 day moving average is $53.18. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 4.80 and a beta of 1.57. GLOBALFOUNDRIES Inc. has a 1-year low of $45.52 and a 1-year high of $68.57.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.09. The company had revenue of $1.55 billion for 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%. Sell-side analysts predict that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America reduced their target price on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price target (down from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. Jefferies Financial Group assumed coverage on shares of GLOBALFOUNDRIES in a report on Monday, May 13th. They issued a “buy” rating and a $62.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. Finally, Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.62.

About GLOBALFOUNDRIES

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.