Profund Advisors LLC Purchases 515 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Profund Advisors LLC boosted its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,626 shares of the company’s stock after acquiring an additional 515 shares during the period. Profund Advisors LLC’s holdings in GLOBALFOUNDRIES were worth $2,307,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its position in shares of GLOBALFOUNDRIES by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 34,789 shares of the company’s stock worth $2,108,000 after purchasing an additional 340 shares during the period. CWM LLC grew its holdings in shares of GLOBALFOUNDRIES by 38.6% during the second quarter. CWM LLC now owns 1,339 shares of the company’s stock worth $68,000 after buying an additional 373 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of GLOBALFOUNDRIES by 1.7% during the second quarter. Pacer Advisors Inc. now owns 26,359 shares of the company’s stock worth $1,333,000 after buying an additional 444 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of GLOBALFOUNDRIES by 1.3% during the second quarter. Royal London Asset Management Ltd. now owns 34,765 shares of the company’s stock worth $1,758,000 after buying an additional 450 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of GLOBALFOUNDRIES by 8.7% during the first quarter. Meeder Asset Management Inc. now owns 7,289 shares of the company’s stock worth $380,000 after buying an additional 583 shares in the last quarter.

Analyst Upgrades and Downgrades

GFS has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th. TD Cowen decreased their price target on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Evercore ISI decreased their price target on GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Seven equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.54.

GLOBALFOUNDRIES Stock Performance

NASDAQ:GFS opened at $39.41 on Monday. The stock has a market cap of $21.75 billion, a P/E ratio of 24.33, a PEG ratio of 6.64 and a beta of 1.54. The stock has a 50 day simple moving average of $46.05 and a 200 day simple moving average of $49.12. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. GLOBALFOUNDRIES Inc. has a 1-year low of $38.49 and a 1-year high of $62.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. GLOBALFOUNDRIES had a return on equity of 7.75% and a net margin of 11.82%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. Research analysts anticipate that GLOBALFOUNDRIES Inc. will post 1.09 earnings per share for the current year.

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.