Duality Advisers LP Makes New Investment in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Duality Advisers LP purchased a new position 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 purchased 26,883 shares of the company’s stock, valued at approximately $1,401,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its holdings in shares of GLOBALFOUNDRIES by 3.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 61,324 shares of the company’s stock valued at $3,195,000 after buying an additional 2,159 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of GLOBALFOUNDRIES by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock valued at $59,018,000 after buying an additional 68,626 shares during the period. Norden Group LLC acquired a new position in shares of GLOBALFOUNDRIES in the 1st quarter valued at about $400,000. Principal Financial Group Inc. lifted its holdings in shares of GLOBALFOUNDRIES by 32.5% in the 1st quarter. Principal Financial Group Inc. now owns 6,530 shares of the company’s stock valued at $340,000 after buying an additional 1,603 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of GLOBALFOUNDRIES by 128.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,471 shares of the company’s stock valued at $129,000 after buying an additional 1,391 shares during the period.

GLOBALFOUNDRIES Trading Up 3.9 %

NASDAQ:GFS traded up $2.09 on Friday, reaching $55.03. The company’s stock had a trading volume of 605,491 shares, compared to its average volume of 1,593,492. GLOBALFOUNDRIES Inc. has a 12-month low of $45.52 and a 12-month high of $68.57. The company has a quick ratio of 1.59, a current ratio of 2.18 and a debt-to-equity ratio of 0.22. The firm has a market cap of $30.36 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 5.18 and a beta of 1.56. The stock has a 50 day moving average price of $51.10 and a 200 day moving average price of $52.76.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its earnings results on Tuesday, May 7th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. On average, equities analysts anticipate that GLOBALFOUNDRIES Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GFS has been the subject of several analyst reports. HSBC decreased their price objective on GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Evercore ISI initiated coverage on GLOBALFOUNDRIES in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of GLOBALFOUNDRIES in a report on Wednesday, May 8th. Morgan Stanley raised their price objective on GLOBALFOUNDRIES from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, Bank of America dropped their price objective on GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, GLOBALFOUNDRIES presently has a consensus rating of “Moderate Buy” and an average target price of $60.62.

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.