Global X Japan Co. Ltd. Increases Holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Global X Japan Co. Ltd. raised its holdings in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 52.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,646 shares of the company’s stock after acquiring an additional 21,765 shares during the quarter. Global X Japan Co. Ltd.’s holdings in GLOBALFOUNDRIES were worth $3,218,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Private Advisor Group LLC boosted its holdings in GLOBALFOUNDRIES by 29.6% in the fourth quarter. Private Advisor Group LLC now owns 7,931 shares of the company’s stock valued at $481,000 after purchasing an additional 1,811 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of GLOBALFOUNDRIES by 19.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 143,870 shares of the company’s stock valued at $8,719,000 after buying an additional 23,414 shares during the last quarter. Jump Financial LLC raised its stake in GLOBALFOUNDRIES by 707.3% during the 4th quarter. Jump Financial LLC now owns 39,759 shares of the company’s stock worth $2,409,000 after acquiring an additional 34,834 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in GLOBALFOUNDRIES by 124.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock valued at $29,581,000 after acquiring an additional 270,520 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in GLOBALFOUNDRIES by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,742 shares of the company’s stock valued at $1,810,000 after acquiring an additional 1,320 shares in the last quarter.

GLOBALFOUNDRIES Trading Up 0.7 %

Shares of GFS opened at $40.41 on Tuesday. GLOBALFOUNDRIES Inc. has a twelve month low of $39.89 and a twelve month high of $62.61. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $22.30 billion, a P/E ratio of 24.94, a PEG ratio of 6.48 and a beta of 1.54. The firm’s 50-day moving average is $48.58 and its two-hundred day moving average is $50.10.

GLOBALFOUNDRIES (NASDAQ:GFS) last released 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 business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. On average, research analysts predict that GLOBALFOUNDRIES Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on GLOBALFOUNDRIES from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of GLOBALFOUNDRIES in a research report on Tuesday, July 16th. Jefferies Financial Group assumed coverage on shares of GLOBALFOUNDRIES in a research note on Monday, May 13th. They issued a “buy” rating and a $62.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday, August 7th. Finally, TD Cowen dropped their price target on shares of GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, GLOBALFOUNDRIES has a consensus rating of “Moderate Buy” and a consensus price target of $57.54.

GLOBALFOUNDRIES Company 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.