Dimensional Fund Advisors LP Buys 77,581 Shares of GlobalFoundries Inc. (NASDAQ:GFS)

Dimensional Fund Advisors LP increased its position in shares of GlobalFoundries Inc. (NASDAQ:GFS) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 653,918 shares of the company’s stock after purchasing an additional 77,581 shares during the quarter. Dimensional Fund Advisors LP’s holdings in GlobalFoundries were worth $33,063,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mubadala Investment Co PJSC acquired a new position in shares of GlobalFoundries in the 4th quarter valued at approximately $28,451,821,000. First Trust Advisors LP boosted its position in shares of GlobalFoundries by 9.9% during the 4th quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock worth $135,750,000 after acquiring an additional 201,611 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in GlobalFoundries by 7.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock valued at $59,018,000 after acquiring an additional 68,626 shares during the last quarter. ProShare Advisors LLC raised its position in GlobalFoundries by 25.9% during the first quarter. ProShare Advisors LLC now owns 544,325 shares of the company’s stock valued at $28,365,000 after purchasing an additional 112,149 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in GlobalFoundries by 2.0% during the first quarter. Vanguard Group Inc. now owns 252,416 shares of the company’s stock worth $13,153,000 after purchasing an additional 4,845 shares during the last quarter.

Wall Street Analyst Weigh In

GFS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of GlobalFoundries in a research note on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of GlobalFoundries in a research note on Tuesday, July 16th. Finally, Evercore ISI decreased their price target on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.54.

GlobalFoundries Trading Down 4.2 %

GFS opened at $38.56 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59. GlobalFoundries Inc. has a fifty-two week low of $38.45 and a fifty-two week high of $62.61. The company’s 50 day moving average price is $44.10 and its two-hundred day moving average price is $48.55. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 6.36 and a beta of 1.54.

GlobalFoundries (NASDAQ:GFS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. GlobalFoundries’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, research analysts predict that GlobalFoundries Inc. will post 1.09 earnings per share for the current year.

About GlobalFoundries

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.