Cambridge Investment Research Advisors Inc. Decreases Holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Cambridge Investment Research Advisors Inc. lowered its holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) by 10.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,904 shares of the company’s stock after selling 1,354 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in GLOBALFOUNDRIES were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GFS. Bank of New York Mellon Corp raised its stake in GLOBALFOUNDRIES by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 81,148 shares of the company’s stock worth $5,066,000 after acquiring an additional 1,101 shares in the last quarter. HighTower Advisors LLC increased its position in shares of GLOBALFOUNDRIES by 16.4% during the first quarter. HighTower Advisors LLC now owns 4,455 shares of the company’s stock worth $277,000 after purchasing an additional 627 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of GLOBALFOUNDRIES by 32.9% in the 1st quarter. Citigroup Inc. now owns 5,608 shares of the company’s stock valued at $350,000 after purchasing an additional 1,389 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of GLOBALFOUNDRIES by 131.8% in the 1st quarter. Cibc World Market Inc. now owns 15,986 shares of the company’s stock valued at $998,000 after purchasing an additional 9,090 shares during the period. Finally, Sei Investments Co. purchased a new position in GLOBALFOUNDRIES during the 1st quarter worth approximately $332,000. Institutional investors and hedge funds own 16.08% of the company’s stock.

GLOBALFOUNDRIES Price Performance

Shares of NASDAQ GFS opened at $57.52 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.45 and a current ratio of 1.94. GLOBALFOUNDRIES Inc. has a one year low of $36.81 and a one year high of $72.50. The firm has a market capitalization of $31.51 billion, a P/E ratio of 20.84, a PEG ratio of 9.60 and a beta of 1.96. The company’s fifty day moving average is $62.81 and its two-hundred day moving average is $62.12.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GFS. Cowen boosted their price objective on GLOBALFOUNDRIES from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Susquehanna raised their price objective on shares of GLOBALFOUNDRIES from $76.00 to $84.00 and gave the stock a “positive” rating in a research report on Wednesday, February 15th. Wedbush reduced their target price on shares of GLOBALFOUNDRIES from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Wednesday, May 10th. Credit Suisse Group raised their price target on GLOBALFOUNDRIES from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Finally, Citigroup upped their price objective on GLOBALFOUNDRIES from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.87.

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.