6,481 Shares in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 6,481 shares of the company’s stock, valued at approximately $349,000.

Several other institutional investors also recently modified their holdings of the business. Godsey & Gibb Inc. purchased a new stake in GLOBALFOUNDRIES during the 4th quarter valued at about $27,000. Private Trust Co. NA purchased a new stake in GLOBALFOUNDRIES during the 4th quarter valued at about $29,000. IFP Advisors Inc grew its position in GLOBALFOUNDRIES by 363.5% during the 3rd quarter. IFP Advisors Inc now owns 635 shares of the company’s stock valued at $31,000 after purchasing an additional 498 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in GLOBALFOUNDRIES during the 4th quarter valued at about $44,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in GLOBALFOUNDRIES during the 4th quarter valued at about $46,000. 16.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GFS. HSBC increased their price objective on shares of GLOBALFOUNDRIES from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, February 15th. Cowen raised their price target on shares of GLOBALFOUNDRIES from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. Raymond James raised their price target on shares of GLOBALFOUNDRIES from $70.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. TD Cowen dropped their price target on shares of GLOBALFOUNDRIES from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 10th. Finally, Citigroup raised their price target on shares of GLOBALFOUNDRIES from $67.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 15th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, GLOBALFOUNDRIES currently has a consensus rating of “Moderate Buy” and an average price target of $78.87.

GLOBALFOUNDRIES Stock Performance

GFS opened at $56.97 on Monday. The company has a current ratio of 1.94, a quick ratio of 1.45 and a debt-to-equity ratio of 0.22. The company has a market cap of $31.21 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 9.60 and a beta of 1.95. The company’s 50 day moving average is $63.11 and its 200 day moving average is $62.06. GLOBALFOUNDRIES Inc. has a 12-month low of $36.81 and a 12-month high of $72.50.

GLOBALFOUNDRIES Company Profile

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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.