GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,165 shares of the company’s stock after buying an additional 1,367 shares during the quarter. Daiwa Securities Group Inc.’s holdings in GLOBALFOUNDRIES were worth $3,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its holdings in GLOBALFOUNDRIES by 18.7% in the third quarter. FMR LLC now owns 35,205,461 shares of the company’s stock worth $2,048,606,000 after purchasing an additional 5,544,907 shares during the period. Ameriprise Financial Inc. grew its position in shares of GLOBALFOUNDRIES by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,160,878 shares of the company’s stock valued at $183,931,000 after buying an additional 838,355 shares during the last quarter. Norges Bank acquired a new stake in GLOBALFOUNDRIES during the fourth quarter worth about $80,293,000. First Trust Advisors LP lifted its holdings in GLOBALFOUNDRIES by 37.0% in the first quarter. First Trust Advisors LP now owns 1,486,900 shares of the company’s stock worth $107,324,000 after acquiring an additional 401,582 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in GLOBALFOUNDRIES by 1,042.5% in the first quarter. Capital Research Global Investors now owns 1,316,303 shares of the company’s stock valued at $82,164,000 after acquiring an additional 1,201,093 shares during the period.

GLOBALFOUNDRIES Stock Performance

GFS opened at $46.26 on Friday. GLOBALFOUNDRIES Inc. has a 1-year low of $46.23 and a 1-year high of $68.57. The company has a market capitalization of $25.34 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.96 and a beta of 1.61. The business has a 50 day moving average price of $52.12 and a two-hundred day moving average price of $54.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.56.

GLOBALFOUNDRIES (NASDAQ:GFS) last announced its earnings results on Tuesday, February 13th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. GLOBALFOUNDRIES had a return on equity of 10.16% and a net margin of 13.80%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business posted $1.37 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. Research analysts predict that GLOBALFOUNDRIES Inc. will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America dropped their price target on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Citigroup downgraded shares of GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and reduced their price target for the company from $70.00 to $56.00 in a report on Wednesday, February 14th. Robert W. Baird dropped their price objective on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Evercore ISI started coverage on shares of GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price objective on the stock. Finally, Susquehanna reissued a “neutral” rating and set a $48.00 target price (down from $65.00) on shares of GLOBALFOUNDRIES in a research note on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, GLOBALFOUNDRIES presently has an average rating of “Moderate Buy” and an average target price of $63.08.

About GLOBALFOUNDRIES

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.