Massmutual Trust Co. FSB ADV Buys New Position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Massmutual Trust Co. FSB ADV purchased a new position in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,173 shares of the company’s stock, valued at approximately $59,000.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position in GLOBALFOUNDRIES by 13.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,639 shares of the company’s stock valued at $445,000 after buying an additional 1,057 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of GLOBALFOUNDRIES by 343.7% in the first quarter. Tidal Investments LLC now owns 94,320 shares of the company’s stock worth $4,915,000 after acquiring an additional 73,060 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in GLOBALFOUNDRIES by 15.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,395 shares of the company’s stock valued at $907,000 after purchasing an additional 2,363 shares during the last quarter. Lazard Asset Management LLC grew its stake in GLOBALFOUNDRIES by 47.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,446 shares of the company’s stock valued at $127,000 after purchasing an additional 786 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in GLOBALFOUNDRIES during the 1st quarter worth approximately $422,000.

Wall Street Analysts Forecast Growth

GFS has been the subject of several research analyst reports. Evercore ISI initiated coverage on GLOBALFOUNDRIES in a research note on Tuesday, April 16th. They set an “outperform” rating and a $71.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a research note on Wednesday. HSBC dropped their target price on shares of GLOBALFOUNDRIES from $56.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Bank of America reduced their price target on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of GLOBALFOUNDRIES in a report on Tuesday, July 16th. Seven 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.69.

GLOBALFOUNDRIES Stock Down 3.4 %

Shares of GLOBALFOUNDRIES stock opened at $43.23 on Wednesday. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 4.52 and a beta of 1.56. GLOBALFOUNDRIES Inc. has a twelve month low of $43.18 and a twelve month high of $62.61. The company has a current ratio of 2.18, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $50.91 and its 200-day simple moving average is $51.86.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. GLOBALFOUNDRIES had a return on equity of 8.78% and a net margin of 12.66%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities research analysts forecast that GLOBALFOUNDRIES Inc. will post 1.06 earnings per share for the current year.

About GLOBALFOUNDRIES

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.