New York State Common Retirement Fund Sells 7,956 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

New York State Common Retirement Fund decreased its holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 12.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 56,689 shares of the company’s stock after selling 7,956 shares during the period. New York State Common Retirement Fund’s holdings in GLOBALFOUNDRIES were worth $3,435,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in GLOBALFOUNDRIES by 50.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock valued at $34,000 after buying an additional 187 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of GLOBALFOUNDRIES by 442.4% during the third quarter. PNC Financial Services Group Inc. now owns 895 shares of the company’s stock valued at $52,000 after acquiring an additional 730 shares during the last quarter. Advisors Preferred LLC acquired a new stake in GLOBALFOUNDRIES in the third quarter valued at $58,000. Blue Trust Inc. raised its position in GLOBALFOUNDRIES by 31.6% during the 4th quarter. Blue Trust Inc. now owns 1,510 shares of the company’s stock worth $88,000 after purchasing an additional 363 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in GLOBALFOUNDRIES by 230.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,041 shares of the company’s stock worth $119,000 after buying an additional 1,423 shares during the period.

GLOBALFOUNDRIES Stock Up 2.1 %

GLOBALFOUNDRIES stock opened at $49.27 on Monday. GLOBALFOUNDRIES Inc. has a fifty-two week low of $45.52 and a fifty-two week high of $68.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.04. The firm’s 50-day simple moving average is $50.86 and its 200 day simple moving average is $53.91. The stock has a market cap of $27.27 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 4.16 and a beta of 1.61.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Susquehanna restated a “neutral” rating and set a $48.00 price objective (down from $65.00) on shares of GLOBALFOUNDRIES in a research report on Tuesday, March 5th. Robert W. Baird dropped their price target on shares of GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a research report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target (down previously from $70.00) on shares of GLOBALFOUNDRIES in a report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.46.

GLOBALFOUNDRIES Company Profile

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.