GlobalFoundries Inc. (NASDAQ:GFS) Shares Bought by Axa S.A.

Axa S.A. lifted its holdings in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,815 shares of the company’s stock after buying an additional 2,696 shares during the period. Axa S.A.’s holdings in GlobalFoundries were worth $2,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GFS. Massmutual Trust Co. FSB ADV acquired a new stake in GlobalFoundries during the 2nd quarter worth approximately $59,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GlobalFoundries during the second quarter worth approximately $65,000. CWM LLC lifted 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 purchasing an additional 373 shares during the period. Lazard Asset Management LLC grew its position in GlobalFoundries by 47.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after buying an additional 786 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in GlobalFoundries by 128.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock valued at $129,000 after buying an additional 1,391 shares during the period.

GlobalFoundries Price Performance

GlobalFoundries stock opened at $40.25 on Tuesday. The stock has a market capitalization of $22.21 billion, a P/E ratio of 24.85, a P/E/G ratio of 6.36 and a beta of 1.54. GlobalFoundries Inc. has a 12-month low of $38.49 and a 12-month high of $62.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. The firm’s 50-day moving average is $44.42 and its two-hundred day moving average is $48.64.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. Equities analysts predict that GlobalFoundries Inc. will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GFS. Wedbush reaffirmed an “outperform” rating and issued a $65.00 target price on shares of GlobalFoundries in a report on Wednesday, August 7th. Evercore ISI dropped their target price on GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. TD Cowen reduced their price target on GlobalFoundries from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of GlobalFoundries in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on GlobalFoundries from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.54.

GlobalFoundries Company Profile

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.