Strs Ohio Has $1.01 Million Stake in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Strs Ohio grew its position in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,711 shares of the company’s stock after buying an additional 3,484 shares during the quarter. Strs Ohio’s holdings in GLOBALFOUNDRIES were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in GLOBALFOUNDRIES by 10.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 70,675 shares of the company’s stock worth $4,283,000 after purchasing an additional 6,743 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in GLOBALFOUNDRIES in the 4th quarter worth approximately $2,636,000. Cerity Partners LLC acquired a new stake in GLOBALFOUNDRIES in the 4th quarter worth approximately $272,000. Meeder Asset Management Inc. lifted its holdings in GLOBALFOUNDRIES by 61.5% in the 4th quarter. Meeder Asset Management Inc. now owns 6,706 shares of the company’s stock worth $406,000 after purchasing an additional 2,554 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in GLOBALFOUNDRIES by 16.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 7,582 shares of the company’s stock worth $463,000 after purchasing an additional 1,058 shares during the last quarter.

GLOBALFOUNDRIES Stock Performance

Shares of NASDAQ GFS opened at $46.35 on Wednesday. The business has a fifty day simple moving average of $51.76 and a 200 day simple moving average of $54.39. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $25.39 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.91 and a beta of 1.61. GLOBALFOUNDRIES Inc. has a one year low of $45.52 and a one year high of $68.57.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America reduced their target price on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Robert W. Baird cut their price target on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Citigroup lowered GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and cut their price target for the stock from $70.00 to $56.00 in a report on Wednesday, February 14th. Susquehanna reiterated a “neutral” rating and set a $48.00 price target (down from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.