121,795 Shares in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 121,795 shares of the company’s stock, valued at approximately $6,347,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mubadala Investment Co PJSC purchased a new stake in shares of GLOBALFOUNDRIES during the 4th quarter valued at $28,451,821,000. Kodai Capital Management LP purchased a new position in shares of GLOBALFOUNDRIES in the 4th quarter worth about $67,351,000. International Assets Investment Management LLC increased 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 valued at $32,207,000 after purchasing an additional 521,228 shares during the last quarter. Norges Bank purchased a new position in shares of GLOBALFOUNDRIES during the 4th quarter valued at about $18,629,000. Finally, Dimensional Fund Advisors LP lifted its position in GLOBALFOUNDRIES by 124.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 488,048 shares of the company’s stock worth $29,581,000 after buying an additional 270,520 shares during the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a research report on Wednesday, May 8th. Bank of America cut their price target 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. Evercore ISI assumed coverage on shares of GLOBALFOUNDRIES in a report on Tuesday, April 16th. They set an “outperform” rating and a $71.00 target price for the company. HSBC decreased their target price on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, Susquehanna boosted their price objective on shares of GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, GLOBALFOUNDRIES has a consensus rating of “Moderate Buy” and an average target price of $60.62.

GLOBALFOUNDRIES Trading Up 2.9 %

Shares of GFS traded up $1.54 during midday trading on Friday, hitting $54.48. The stock had a trading volume of 1,178,196 shares, compared to its average volume of 1,597,798. GLOBALFOUNDRIES Inc. has a 1 year low of $45.52 and a 1 year high of $68.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.59. The stock’s 50 day moving average is $51.21 and its 200 day moving average is $52.72. The firm has a market cap of $30.06 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 5.18 and a beta of 1.56.

GLOBALFOUNDRIES (NASDAQ:GFS) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. As a group, analysts forecast that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current fiscal year.

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.