JPMorgan Chase & Co. Purchases 732,052 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

JPMorgan Chase & Co. raised its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFSGet Rating) by 69.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,782,687 shares of the company’s stock after acquiring an additional 732,052 shares during the quarter. JPMorgan Chase & Co.’s holdings in GLOBALFOUNDRIES were worth $71,914,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of GLOBALFOUNDRIES in the first quarter worth about $227,000. Envestnet Asset Management Inc. raised its stake in shares of GLOBALFOUNDRIES by 37.6% in the first quarter. Envestnet Asset Management Inc. now owns 9,166 shares of the company’s stock worth $572,000 after buying an additional 2,506 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of GLOBALFOUNDRIES by 70.6% in the first quarter. Commonwealth Equity Services LLC now owns 15,872 shares of the company’s stock worth $990,000 after buying an additional 6,566 shares during the period. Victory Capital Management Inc. raised its stake in shares of GLOBALFOUNDRIES by 1,061.6% in the first quarter. Victory Capital Management Inc. now owns 90,360 shares of the company’s stock worth $4,725,000 after buying an additional 82,581 shares during the period. Finally, Prospera Financial Services Inc bought a new position in shares of GLOBALFOUNDRIES in the first quarter worth about $28,000. Institutional investors own 14.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $78.00 price objective on shares of GLOBALFOUNDRIES in a research note on Wednesday, November 16th. Needham & Company LLC raised their price objective on GLOBALFOUNDRIES from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 9th. Citigroup decreased their price objective on GLOBALFOUNDRIES from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. HSBC increased their target price on GLOBALFOUNDRIES to $55.00 in a research report on Tuesday, November 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on GLOBALFOUNDRIES from $60.00 to $67.00 in a research report on Wednesday, November 9th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $72.85.

GLOBALFOUNDRIES Stock Performance

NASDAQ:GFS opened at $67.58 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22. GLOBALFOUNDRIES Inc. has a 12-month low of $36.81 and a 12-month high of $79.49. The stock has a 50-day moving average price of $56.46 and a 200 day moving average price of $54.08. The stock has a market capitalization of $35.94 billion and a P/E ratio of 45.05.

GLOBALFOUNDRIES Profile

(Get Rating)

GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies.

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Institutional Ownership by Quarter for GLOBALFOUNDRIES (NASDAQ:GFS)

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