16,100 Shares in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Purchased by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,100 shares of the company’s stock, valued at approximately $976,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina lifted its position in shares of GLOBALFOUNDRIES by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,449 shares of the company’s stock valued at $2,005,000 after acquiring an additional 180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in GLOBALFOUNDRIES by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 558 shares of the company’s stock worth $34,000 after purchasing an additional 187 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in GLOBALFOUNDRIES by 6.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,389 shares of the company’s stock worth $314,000 after purchasing an additional 316 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of GLOBALFOUNDRIES by 5.5% during the third quarter. Principal Financial Group Inc. now owns 6,160 shares of the company’s stock worth $358,000 after buying an additional 321 shares in the last quarter. Finally, Balentine LLC raised its position in shares of GLOBALFOUNDRIES by 7.8% in the second quarter. Balentine LLC now owns 4,525 shares of the company’s stock valued at $292,000 after buying an additional 326 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Evercore ISI began coverage on shares of GLOBALFOUNDRIES in a research note on Tuesday. They set an “outperform” rating and a $71.00 price objective for the company. Citigroup lowered GLOBALFOUNDRIES from a “buy” rating to a “neutral” rating and dropped their price target for the company from $70.00 to $56.00 in a research report on Wednesday, February 14th. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price objective (down previously from $70.00) on shares of GLOBALFOUNDRIES in a research report on Monday, April 8th. Susquehanna restated a “neutral” rating and issued a $48.00 target price (down from $65.00) on shares of GLOBALFOUNDRIES in a report on Tuesday, March 5th. Finally, Robert W. Baird reduced their price target on GLOBALFOUNDRIES from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, GLOBALFOUNDRIES presently has an average rating of “Moderate Buy” and a consensus price target of $63.08.

GLOBALFOUNDRIES Trading Down 0.9 %

GFS stock traded down $0.44 during mid-day trading on Wednesday, hitting $47.36. 1,242,871 shares of the company were exchanged, compared to its average volume of 1,560,085. GLOBALFOUNDRIES Inc. has a 12-month low of $46.73 and a 12-month high of $68.57. The firm has a market capitalization of $25.94 billion, a P/E ratio of 25.82, a PEG ratio of 3.99 and a beta of 1.61. The business has a fifty day simple moving average of $52.65 and a 200-day simple moving average of $54.82. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.16.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.85 billion. GLOBALFOUNDRIES had a net margin of 13.80% and a return on equity of 10.16%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. On average, equities research analysts predict that GLOBALFOUNDRIES Inc. will post 1 earnings per share for the current fiscal year.

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.