GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Holdings Lowered by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. trimmed its stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 8.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,714 shares of the company’s stock after selling 453 shares during the period. E Fund Management Co. Ltd.’s holdings in GLOBALFOUNDRIES were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GFS. FMR LLC raised its position in shares of GLOBALFOUNDRIES by 18.7% during the 3rd quarter. FMR LLC now owns 35,205,461 shares of the company’s stock worth $2,048,606,000 after buying an additional 5,544,907 shares in the last quarter. Ameriprise Financial Inc. raised 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 worth $183,931,000 after buying an additional 838,355 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of GLOBALFOUNDRIES by 5,093.1% during the 4th quarter. International Assets Investment Management LLC now owns 531,462 shares of the company’s stock worth $32,207,000 after buying an additional 521,228 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of GLOBALFOUNDRIES by 149.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 475,704 shares of the company’s stock worth $27,681,000 after buying an additional 285,000 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of GLOBALFOUNDRIES by 977.5% during the 4th quarter. SG Americas Securities LLC now owns 182,399 shares of the company’s stock worth $11,053,000 after buying an additional 165,471 shares in the last quarter.

GLOBALFOUNDRIES Stock Performance

GLOBALFOUNDRIES stock traded down $0.76 on Thursday, hitting $51.60. The company’s stock had a trading volume of 1,023,151 shares, compared to its average volume of 1,553,968. The firm has a market cap of $28.56 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 4.16 and a beta of 1.61. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $50.75 and a 200-day moving average price of $53.85. GLOBALFOUNDRIES Inc. has a one year low of $45.52 and a one year high of $68.57.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. HSBC dropped their target price on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Bank of America dropped their target price on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Robert W. Baird dropped their target price 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 assumed coverage on shares of GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of GLOBALFOUNDRIES from $56.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.23.

GLOBALFOUNDRIES 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.