Maryland State Retirement & Pension System Acquires 1,461 Shares of GLOBALFOUNDRIES Inc. (NASDAQ:GFS)

Maryland State Retirement & Pension System boosted its holdings in GLOBALFOUNDRIES Inc. (NASDAQ:GFS) by 23.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,660 shares of the company’s stock after purchasing an additional 1,461 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GLOBALFOUNDRIES were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mubadala Investment Co PJSC purchased a new stake in GLOBALFOUNDRIES during the fourth quarter valued at approximately $28,451,821,000. First Trust Advisors LP raised its holdings in GLOBALFOUNDRIES by 9.9% during the 4th quarter. First Trust Advisors LP now owns 2,240,096 shares of the company’s stock valued at $135,750,000 after buying an additional 201,611 shares during the period. Kodai Capital Management LP bought a new stake in GLOBALFOUNDRIES in the fourth quarter worth $67,351,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in GLOBALFOUNDRIES by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,773 shares of the company’s stock worth $59,018,000 after buying an additional 68,626 shares during the period. Finally, ProShare Advisors LLC increased its position in GLOBALFOUNDRIES by 25.9% during the first quarter. ProShare Advisors LLC now owns 544,325 shares of the company’s stock valued at $28,365,000 after acquiring an additional 112,149 shares during the last quarter.

GLOBALFOUNDRIES Stock Performance

Shares of GLOBALFOUNDRIES stock opened at $42.68 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.59 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $49.15 and its 200-day moving average price is $50.37. The firm has a market cap of $23.55 billion, a P/E ratio of 26.35, a P/E/G ratio of 7.54 and a beta of 1.56. GLOBALFOUNDRIES Inc. has a 12 month low of $42.51 and a 12 month high of $62.61.

GLOBALFOUNDRIES (NASDAQ:GFS) last posted its earnings results on Tuesday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. GLOBALFOUNDRIES had a net margin of 11.82% and a return on equity of 7.75%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, equities research analysts expect that GLOBALFOUNDRIES Inc. will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on GFS. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th. Evercore ISI dropped their target price on GLOBALFOUNDRIES from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley increased their price target on GLOBALFOUNDRIES from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Susquehanna boosted their price objective on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, TD Cowen cut their price objective on GLOBALFOUNDRIES from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Seven 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 has a consensus rating of “Moderate Buy” and an average price target of $57.54.

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.