Dimensional Fund Advisors LP Acquires 77,581 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Dimensional Fund Advisors LP grew its stake in GlobalFoundries Inc. (NASDAQ:GFS) by 13.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 653,918 shares of the company’s stock after buying an additional 77,581 shares during the quarter. Dimensional Fund Advisors LP owned 0.12% of GlobalFoundries worth $33,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GFS. Mubadala Investment Co PJSC acquired a new stake in GlobalFoundries in the 4th quarter valued at approximately $28,451,821,000. First Trust Advisors LP raised its holdings in shares of GlobalFoundries by 9.9% in the fourth quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock valued at $135,750,000 after purchasing an additional 201,611 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of GlobalFoundries by 7.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after purchasing an additional 68,626 shares in the last quarter. ProShare Advisors LLC boosted its holdings in GlobalFoundries by 25.9% during the first quarter. ProShare Advisors LLC now owns 544,325 shares of the company’s stock worth $28,365,000 after purchasing an additional 112,149 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in GlobalFoundries by 2.0% in the first quarter. Vanguard Group Inc. now owns 252,416 shares of the company’s stock valued at $13,153,000 after purchasing an additional 4,845 shares in the last quarter.

GlobalFoundries Price Performance

NASDAQ:GFS opened at $38.56 on Wednesday. The company has a market cap of $21.28 billion, a P/E ratio of 23.80, a P/E/G ratio of 6.36 and a beta of 1.54. The firm’s fifty day moving average price is $44.10 and its two-hundred day moving average price is $48.55. GlobalFoundries Inc. has a one year low of $38.45 and a one year 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.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI cut their price target on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of GlobalFoundries in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered their price target on GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of GlobalFoundries in a research note on Wednesday, August 7th. Finally, TD Cowen lowered their target price on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, GlobalFoundries currently has a consensus rating of “Moderate Buy” and an average target price of $57.54.

About GlobalFoundries

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.